World Economy

Alibaba Q1 Profit Hits $1.55 Billion

Alibaba Q1 Profit Hits $1.55 BillionAlibaba Q1 Profit Hits $1.55 Billion

Chinese tech giant Alibaba recently announced its quarterly profit and stunned everyone with the digits. According to the officials, the company made the profit of almost $1.55 billion in the first quarter of the year, Yahoo reported. According to analysts, the company made this huge sum due to online purchases through e-commerce giant Alibaba’s portal. The company is investing in different countries which is also the reason the company made this huge profit. Founder of Alibaba, Jack Ma is keen on expanding its e-commerce business and is trying to engage more people to buy things online.

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