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Alibaba Group’s Retail Sales Surge 38 Pct In Q4

February 13, 2020 / pymnts
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In its latest quarter, Alibaba Group saw its sales come out ahead of expectations, spiking 38 percent. The Chinese online shopping company had revenue of $23.19 billion or 161.45 billion yuan in the quarter concluding on Dec. 31, which was higher than 117.28 billion yuan a year prior. Analysts had forecasted 159.7 billion yuan in sales, The Wall Street Journal reported. Mobile monthly active users on the Chinese retail marketplace totaled 824 million, which was 39 percent higher than the prior year, while annual active consumers clocked in at 711 million. Earnings per American depositary share were 19.55 yuan, while they were 12.64 yuan a year prior. Daniel Zhang, Chairman and CEO of Alibaba Group, said in an earnings press release, “Alibaba Group experienced robust growth across our business this past quarter.