Alibaba revenues up 32% as retail platforms' sales value jumps

E-commerce conglomerate Alibaba Group Holding saw revenues rise 32% year-on-year in the December quarter as the value of products sold on its retail platforms – gross merchandise value (GMV) – jumped 23% to RMB964 billion (US$149 billion), The Financial Times reported. Revenue for the period jumped to RMB34.5 billion, compared to RMB26.2 billion for the same period in 2014, while net income more than doubled to RMB12.4 billion. Mobile sales accounted for 68% of Alibaba’s GMV during the quarter, up from 42% the previous year, while monetization, which measures the amount of revenue as a percentage of total GMV, rose to 2.98% for the period, up from 1.7%.