Alibaba increased its sales significantly in the fourth fiscal quarter

The Chinese Internet giant Alibaba increased its sales significantly in the fourth fiscal quarter. The revenues of the online platform increased in the three months to the end of March compared to the same period last year by 64 percent to 187.4 billion yuan (around 24 billion euros), as the company announced in Huangzhou. Analysts had expected less on average. The bottom line was a quarterly loss of nearly 5.5 billion yuan. China had imposed billions in fines on the company for monopoly behavior. A year ago, the group had made a profit of 3.2 billion yuan. For the current fiscal year, Alibaba expects sales of more than 930 billion yuan. Analysts are currently on average a little less on the slips of paper. Beijing's competition watchdog recently fined Alibaba a record 18 billion yuan. The world's largest online trading platform has used its dominant position to force dealers to offer their goods exclusively through Alibaba, the market regulator justified the move. It is the Chinese antitrust authorities' highest penalty to date against an Internet company. Alibaba and its founder Jack Ma have fallen out of favor in the People's Republic. In early November, the planned huge IPO of Ant, Alibaba's financial arm, was unexpectedly canceled. Company founder Ma had previously publicly criticized his country's financial regulators at the end of October.