Alibaba saw impressive first quarter results with net income almost tripled to RMB12.23 billion (US$1.99 billion), or RMB5.16 a share ahead of its IPO, Bloomberg reported, citing a Tuesday stock exchange filing. Revenue rose 46% to RMB15.6 billion as advertisers boosted spending on the Tmall and Taobao platforms. Alibaba, China’s biggest e-commerce operator, may kick off its roadshow meetings to market the IPO after 2 September, though the timeline hasn’t been finalized. Alibaba issued stock-based compensation worth RMB362.47 a share, indicating a market value of RMB847.8 billion, based on 2.34 billion shares outstanding as of 30 June. The company may be worth RMB1.149 trillion after the IPO.
Categories