Alibaba grows revenues over 60% in Q4, boosted by core commerce, cloud computing

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(Telecompaper) Alibaba said it reported solid results for its fiscal fourth quarter to end March, driven by strong growth at its core commerce business and investments made in longer-term growth initiatives. CEO Daniel Zhang said the continuing roll out of the company’s New Retail strategy has helped Alibaba’s e-commerce platform develop into the leading retail infrastructure of China. During the quarter, the company said it also doubled down on developing its technology, cloud computing, logistics, digital entertainment and local service in order to capture consumption growth in China and other emerging markets.
Source: Industry News (syndicated from Telecompaper.com)

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