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Alibaba has published the first quarterly report since the beginning of the stock quotation on the market
Alibaba, a Chinese e-commerce corporation, has released its first quarterly report since the company's first market quotation. According to Xinhua, the company's total revenue for the third quarter, which ended September 3, amounted to 30 billion yuan ($ 16,829 billion), up 2,742 percent from the same period last year.
The company's profit in the main areas of activity reached 8,493 billion yuan (1,384 billion dollars); corporation net profit with adjustments amounted to 6,808 billion yuan (1,109 billion dollars). The report indicates that as of the end of September, the number of customers on the Taobao and Tmall Internet portals reached 307 million, which is 52 percent more than the figures recorded a year earlier. The total volume of transactions that were concluded for 3-th quarter of 2014 of the year on retail platforms under the auspices of Alibaba in China by 48,7 percent exceeded the figures for the same period last year.
“We continue to implement a targeted growth strategy, and the fundamental strength of the business gives us the opportunity to confidently invest in initiatives to attract new users, improve interaction with customers and the quality of their service, develop our products and services, and also ensures the value of shares in the long term,” noted the company's financial director Maggie Wei Wu.
According to the Vedomosti newspaper, the Alibaba Group includes: Alibaba.com, Taobao Marketplace, Taobao Mall, search engine Etao, China Yahoo !, payment system Alipay. The controlling stake is owned by Yahoo! and Softbank.