Alibaba revenue rose 51% in the three months ended March
The e-commerce operator says recommendations to users based on their preferences now drive more sales than traditional searches
Hong Kong — Alibaba Group Holding has posted quarterly revenue and earnings that top analyst estimates as personalised recommendations drive consumer spending across its shopping sites. Revenue at China’s biggest e-commerce company rose 51% to 93.5-billion yuan ($13.6bn) in the three months ended March, the company said. That compares with the 91.7-billion yuan average of analysts’ estimates compiled by Bloomberg. Adjusted earnings per share was 8.57 yuan, topping projections for 6.5 yuan. The Hangzhou-based company predicted revenue in the current financial year of more than 500-billion yuan. Recommendations to users based on their preferences are now driving more sales than traditional searches, boosting Alibaba’s ability to provide targeted advertising for merchants on its main Taobao platform. That is helping the e-commerce operator generate more revenue at a time escalating US-Chinese tensions threaten to dampen the world’s number two economy. The “testing of new recommendation...
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