May 8, 2018 / 11:13 AM / in a year

CORRECTED-China's posts 33.1 pct rise in quarterly revenue

(Corrects headline to add percentage. The earlier version of story was corrected to show that year-ago figure was a “profit” and not a “loss” in third paragraph and the figure was corrected to 33.1 percent in first paragraph)

May 8 (Reuters) - Inc, China’s second-largest e-commerce firm, reported a better-than-expected 33.1 percent rise in first-quarter revenue on Tuesday, helped by steady sales in a historically slow quarter.

The firm posted 100.13 billion yuan ($15.73 billion) in revenue for the three months ended March 31, compared with the average analyst estimate of 98.9 billion yuan, according to Thomson Reuters I/B/E/S. posted a net gain of 1.04 yuan per American depositary share, versus 0.17 yuan a year earlier.

Sales are seasonally low for the country’s e-commerce firms in the March quarter, but are expected to pick up in the June quarter around’s flagship “618” sale event, China’s second-largest online shopping event after Singles’ Day. ($1 = 6.3666 Chinese yuan renminbi) (Reporting by Cate Cadell in Beijing and Sonam Rai in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below