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.