Retail in Asia

In Tech

China’s posts 62pc rise in quarterly revenue Inc, China’s No.2 e-commerce company, reported a 62 percent rise in quarterly revenue, topping analysts’ expectation as the number of active customer accounts across its sites nearly doubled from a year earlier.

First-quarter revenue of CNY36.6 billion (USD5.90 billion) exceeded analysts’ estimate of CNY35.65 billion, according to Thomson Reuters I/B/E/S.

Gross merchandise volume (GMV), or the total value of goods sold on, nearly doubled to CNY87.8 billion (USD14.14 billion) in the quarter ended March, with roughly 42 percent of all fulfilled orders coming from mobile devices, the company said.

(Source: CNBC)