Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20

Alibaba's profit surges higher

Thursday, May 05, 2016 - 01:01

The Chinese e-commerce giant is defying China's economic slowdown, as more customers buy goods over their mobile phones. Fred Katayama reports.

▲ Hide Transcript

▶ View Transcript

Swashbuckling Alibaba defying the slowdown in China. Attracting many more customers helped drive quarterly revenue significantly higher. And it got more people to transact over the phone. Mobile revenue more than doubled, and mobile made up nearly three-fourths of the total value of goods transacted on its platforms. Profit surged. Wedbush Securities analyst Gil Luria said, "A re-acceleration in volumes is an indication that the Chinese consumer continues to be strong." Alibaba is also looking for growth outside China. During the quarter, it added 100 international brands to its Tmall platform, where big companies like Macy's and Costco sell directly to consumers. And last month, it bought a controlling stake in the Southeast Asian online retailer, Lazada. Within China, it's boosting growth in rural areas, expanding its purchasing and delivery services to more villages. Alibaba shares shot higher in early trading, whittling away at its nearly 7 percent drop this year.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Alibaba's profit surges higher

Thursday, May 05, 2016 - 01:01

Featured Videos

Ivorian wins first African freestyle football champs

Ivorian wins first African freestyle football champs

A freestyle footballer from Ivory Coast wins the first African championships, held in Nigeria
Che Guevara poster artist on revolutionary times

Che Guevara poster artist on revolutionary times

Fifty years after creating the Che Guevara poster that still adorns student bedrooms around the world, Irish artist Jim Fitzpatrick is delighted at its ubiquity, but concerned at its exploitation for commercial gain
Netfix and HBO tie for total wins at the Emmys

Netfix and HBO tie for total wins at the Emmys

It was a night of upsets for the highest honours in television and a triumph for streaming services, as Netflix drew with HBO for first place at the awards show
BMW shows off self-driving motorcycle

BMW shows off self-driving motorcycle

BMW has released video of its first self-driving motorbike, an autonomous version of its R1200GS motorcycle
Aston Martin swaps V12 for 800V

Aston Martin swaps V12 for 800V

Aston Martin, the car company synonymous with James Bond, has launched its first ever electric sports car, the Rapide E