Alibaba has reported its second quarter revenues, showing massive growth since last year.
Alibaba's net profit amounted to $292 million in the second business quarter, ending June 30, 2012, a 113% rise from the previous quarter. The company's entire revenue for the quarter was $1.07 billion, a rise of 70.63%. Net profit for 2012 was $730 million, an increase of 75.68% from the same period last year, with a profit margin of 68.7%, slightly better than last year's 66.72%. As of June 30, 2012, Alibaba's current assets were $4.437 billion, a rise from $3.49 billion a year before.
Alibaba is a leading ecommerce group that connects businesses and manufacturers. Reportedly, Alibaba makes more sales per year than Amazon and eBay combined.