The Traderszone Network

Published in TZ Latest News 29 August, 2014 by The TZ Newswire Staff

Alibaba profit more than Amazon, EBay combined ahead of IPO

Alibaba Group Holding Ltd. has been described as a mixture of Inc. and EBay Inc. (EBAY) during the preparation for its U.S. In the last quarter, Alibaba earned more than those companies combined. Operating income at China’s biggest e-commerce operator rose to $1.1 billion in the three months ended June, or 42 percent more than the combined profit of Amazon and EBay for the period. After including one-time gains, Alibaba’s net income was more than double those of its competitors.