Alibaba.com announced 20.4% Q3 net profit fall dawn to 34.6 million US$. Regarding the company authorities, a significant part of losses was generated because of the losses on rising marketing expenditure. So, total operating expenses increased 60.5% to reach 2.45 million US$ for the Q3. So called "Gold Supplier" members, who pay a correspondent fee to appear on the Alibaba.com site, grew by 45.3% year-on-year to reach 578,901 US$. Despite this profit fall, the company preserves cautious optimism regarding the next year growth. Alibaba.com is going to work on expansion on the US market looking for partners to launch full-scale operations. The US market is the company second-largest market after the Chinese one.
Alibaba.com belongs to Alibaba Group which is also the parent company of Taobao.com, Alipay.com, Alisoft.com and China Yahoo. Alibaba.com bought business-management software division Alisoft for 30.5 million US$ and paid 79.1 million US$ for a controlling stake in HiChina Web Solutions. Alibaba Group reaches Internet users Worldwide employing 15,000 people in more than 50 cities in Greater China, USA, UK, Japan and South Korea.
LINKS:
Alibaba.com Limited: http://www.alibaba.com/
TICKER: Alibaba.com Limited: HKSE: 1688.HK
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