Quarterly revenue of Alibaba grew by 61%

China's Internet giant Alibaba Group Holding in the fourth fiscal quarter, ended in March, reduced its net profit by 33% to 7 billion 561 million yuan in connection with a large one-time financial income in the same quarter a year earlier. Net profit without taking into account non-recurring factors increased by 37%. Adjusted earnings per share increased from 63 cents to 91 cents, analysts had predicted 85 cents per share. Revenues in terms of the US dollars amounted to 9 billion 873 million dollars. Experts had expected the figure at the level of 9.3 billion dollars. Revenues of Alibaba's core retail business increased 62%. The cloud division increased revenues by 103%. As a result of the financial year, the company's net profit increased by 40% to 24.51 yuan per share, revenue increased by 58% to 250 billion 270 million yuan.

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