Advertisement

Alibaba.com Reports 46% Increase in Q4 Profit

March 25, 2011

Chinese online alternative payment company Alibaba.com Limited posted a 46 percent increase in Q4 profits last year compared to 2009, reporting net income for the period of ¥410.4 million ($62.5 million). Total revenue in the fourth quarter rose 37.6 percent to ¥1.52 billion ($231.6 million). The company said at the end of 2010 it had more than 809,000 paying members, up 31.6 percent on a year-over-year basis and a rate that will slow down over the next year, according to Jonathan Lu, CEO and Executive Director of Alibaba.com “In 2011, we intend to place increased emphasis on servicing our existing paying members rather than accelerating member acquisition.” Lu said. “We will enhance the customer experience of our Gold Supplier and China TrustPass members through service upgrades that we hope will result in a stable membership base and its sustainable growth. Moving towards a more balanced business model, we expect our business and financial performance will be even more resilient to global issues.”



Advertisement


  • Android Pay Up and Running? - Aug. 27, 2015
    Android Pay Up and Running?

    While Samsung recently announced a Sept. 28 date for launch of its contactless mobile payment solution, Google has not said anything officially about its Android Pay solution.

  • Emailage Opens European Data Center - Aug. 27, 2015
    Emailage Opens European Data 

Center

    Emailage, an antifraud technology provider that evaluates risk associated with email addresses, yesterday opened a new data center in the U.K. that will enable it to service European customers more quickly and efficiently.

  • Judge Torpedoes Merchant Settlement with Amex - Aug. 6, 2015
    Judge Torpedoes Merchant Settlement with Amex

    A settlement in a class-action lawsuit between merchants and American Express was scuttled this week by a federal judge in New York City after an attorney working on the case improperly shared information with another attorney representing MasterCard in a similar suit.

Advertisement

 

 

Sign Up Today Free

Receive the twice weekly CNP Report and monthly feature articles providing in-depth examinations of global CNP issues.

Please take a moment and register.
* First Name:

* Last Name:

* Password:

* Confirm Pwd:

* Email:

* Category:

Company:

 
Captcha
Answer:

 

 

CNP Archive

Researching companies or people in the CNP industry? Search our past coverage for targeted news and information.

Search here