Alibaba Tag

SHANGHAI — Alibaba released its first earnings report since revealing in March that the corporate can be split into six business units. The Hangzhou-based e-commerce giant revealed on Thursday that revenue for the fourth quarter ended March 31 had increased by 2 percent year-over-year to 208.2 billion renminbi, or $30.3 billion, falling in need of analysts’ expectations. Throughout the quarter, net income reached 23.5 billion renminbi, or $3.4 billion, with adjusted profits rising by 38 percent year-over-year to 27.4 billion renminbi, or $3.98 billion. For the fiscal yr ending March 31, revenue gained 2 percent year-over-year, reaching 868.68 billion renminbi, or $126.49 billion. Operating income amounted to 100.35 billion renminbi, or $14.61 billion, marking a 44 percent year-over-year increase. As an indicator of China’s...