Alibaba says its revenue rose 42% over a year
earlier in the quarter ending in June to $16.7
billion and profit rose 145% to $3.1 billion.
Still, that was off slightly from 2018’s full-year
revenue growth of 51%.
The total amount of goods sold across Alibaba’s
e-commerce platforms rose 25% last year to
$853 billion. By comparison, the biggest U.S.
e-commerce company, Amazon.com Inc.,
reported total sales of $277 billion.
Alibaba’s deputy chairman, Joe Tsai, told
reporters in May the company is “on the right
side” of issues in U.S.-Chinese trade talks. Tsai