Alibaba reports 5.56 billion yuan revenue in 2010
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Chinese e-commerce giant Alibaba announced its 2010 earnings yesterday. [CFP] |
Chinese e-commerce giant Alibaba announced its 2010 earnings yesterday. Its revenue rose 43.4 percent to 5.5 billion yuan (US$855 million) and net profit rose 45.1 percent to 1.5 billion yuan (US$226 million).
Analysts said the sales were largely driven by a growing customer base, which increased 30 percent to 61.8 million.
In February, Alibaba's former CEO and chief of operations David Wei resigned to take responsibilities for fraudulent activities of its customers.
China's business press carried the story above on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
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