Alibaba Group Revenue increase by 61 percent

Alibaba Group Holding Ltd has beat the revenue forecast with a 61% revenue rise. The important factor in the rise of revenue is online sale.

Alibaba’s Chief Executive Daniel Zhang said in a filing that a recent push into offline services and a number of recent bricks-and-mortar deals had helped contribute to its growth.

“We had an outstanding quarter,” said Zhang. “We are seeing the early results from our efforts to integrate online and offline with our New Retail strategy.”

Its net income attributable to shareholders more than doubled from a year ago, rising 132% to 17.7 billion yuan. Analysts had forecast a roughly 50% rise.