Alibaba reported its highest quarterly sales growth since its flotation in 2014 as mobile purchases outstripped desktop shoppers.
The Chinese etail giant recorded a 59% increase in sales to RMB32.1bn (£3.7bn) in the quarter to June 30, bolstered by a 49% rise in sales across its retail marketplaces.
The online retailer’s soaring sales were driven by mobile purchases, which surged 119% year-on-year in its Chinese retail marketplace to RMB17.5bn (£2bn) and represented 75% of total sales in the region for the first time.
Adjusted EBITDA during the period rose 61% to RMB16.6bn (£1.9bn) while the number active buyers in the Chinese market rocketed by 11 million compared with the previous quarter to 434 million.
During the period more than 8,700 new retail stores were opened on the online retailer’s Tmall platform.
Chief executive Daniel Zhang said: “Alibaba Group had an outstanding quarter. The acceleration of our revenue growth reflects the deep value propositions that we bring to our customers.
“We are changing the way our 434 million active buyers engage with our platform, as we introduce social, community and personalisation driven by smart data into our ecommerce marketplaces. We are poised for strong profitable growth into the future.”
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