Alibaba.com Grows Revenues And Profits, Misses Expectations

Alibaba.com, the massive B2B e-commerce company based in China, this morning published (PDF) its results for the third quarter of the year. The company reported a 11.9 percent increase (to $64 million) in its Q3 net profit, with revenues rising 10.6 percent to $250 million, year-over-year. This was below Wall Street expectations; Alibaba blamed a weak U.S. economy, a decline in manufacturing, the eurozone debt crisis and on-going platform enhancement activities for missing analysts' forecasts.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/pCDylG9RkBo/

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