That drop comes despite a rise in revenue for its 2008 fiscal year.
According to Alibaba’s annual report, the company’s total revenues amounted to Rmb 3 billion (US$439.6 million) in 2008, representing a 39 per cent increase since 2007.
According to Alibaba’s annual report, the company’s total revenues amounted to Rmb 3 billion (US$439.6 million) in 2008, representing a 39 per cent increase since 2007.
It also reported quarterly revenues of Rmb 805.9 million, up 27 per cent from the previous year.
However, the company reported a 57 per cent drop in net profit to Rmb 199.4 million from its fourth quarter of 2007 to the fourth quarter of 2008. For the whole year, income rose 25 per cent to Rmb 1.21 billion.
Alibaba’s user base also increased in 2008. The company reported that users of its marketplaces rose to more than 38 million – up 38 per cent from 2007. The number of users paying for Alibaba’s services also increased by 41 per cent.
Out of China, registered users for the company's international marketplace rose 80 per cent to 7.9 million people.
