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CORRECTED-Alibaba revenue jumps on strong China demand
August 27, 2014 / 1:31 PM / in 3 years

CORRECTED-Alibaba revenue jumps on strong China demand

(Corrects company name in paragraph 1 to “Alibaba Group Holding Ltd” from “Alibaba Group Holdings Inc”)

Aug 27 (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd’s IPO-BABA.N quarterly revenue jumped 46.3 percent to $2.54 billion due to a rise in domestic sales.

Net income attributable to ordinary shareholders nearly tripled to $1.99 billion, or 84 cents per share, for the first quarter ended June 30. (1.usa.gov/1sBndF6)

Revenue from its China commerce retail business increased 45.8 percent to $2.04 billion.

The company - expected to go public as early as next month - said Chairman Jack Yun Ma owned 8.8 percent ordinary shares and Softbank Corp had a 34.1 percent stake, as of June 30. (Reporting by Abhirup Roy in Bangalore; Editing by Joyjeet Das)

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