Alibaba delivers 61 percent growth in revenue amid increased New Retail investment – South China Morning Post

What happened: New York-listed Alibaba released its quarterly financial report ended on June 30. The company reported a total revenue of RMB 80.9 billion ($12.2 billion). The core commerce revenue increased 61% from the same period last year to RMB 69.2 billion, with a growing contribution of the New Retail strategy.

Why it’s important: Alibaba’s growth potential is a highlight among recent oversea Chinese stocks’ unsatisfactory performance. Among China’s declining economic growth, Alibaba’s national retail landscape strategy and the penetration of New Retail will see continuing stable performance.

Runhua Zhao

Runhua Zhao is a technology reporter based in Beijing. Connect with her via email: runhuazhao@technode.com

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