Around the Net
Commerce Giant Mobile Focus Faces Growing Pains
- TechCrunch, Thursday, January 29, 2015 11:28 AM
Alibaba Group’s chief financial officer said during its earnings call today that the e-commerce giant’s focus on mobile will result in some “near-term growing pains” but ensure profitability in the future. The company’s revenue for the quarter ending in December rose 40 percent to $4.22 billion, but still missed the $4.45 billion analysts polled by Thomson Reuters had expected. Alibaba’s net income was $964 million, a 28 percent decrease year-over-year. Alibaba attributed the decline to compensation expenses, a one-time charge for financing-related fees, and an increase in income tax expenses during the quarter.
