US Retailers had a record $3 billion on Black Friday and then $3.45 billion on Cyber Monday last year. Both were records. Alibaba had over 5 times more than both those days combined.
Alibaba reported total quarterly revenue of RMB 55.1 billion ($8.3 billion), beating expectations of RMB 52.2 billion according to a Reuters poll with 61 percent growth. Net profit for the period increased by 146 percent to reach RMB 17.7 billion ($2.7 billion).
Alibaba raised its forecast for annual revenue growth from 49 percent to 53 percent as a result of an investment in logistics affiliate Cainiao which gave the firm a majority ownership.
Revenue from overseas also grew, up 115 percent year-on-year to RMB 2.9 billion ($433 million), thanks primarily through Lazada in Southeast Asia and the international Aliexpress service.