Business / Companies earned $8.3b in net revenue in Q1

(Xinhua) Updated: 2016-05-10 08:15 earned $8.3b in net revenue in Q1

A mobile phone user uses the mobile app of Chinese online retailer on his smartphone in Zhengzhou city, Central China's Henan province, Oct 3, 2015. [Photo/IC]

BEIJING -- Chinese e-commerce giant on Monday reported a rise in net revenue in Q1 thanks to growing mobile business. earned 54 billion yuan ($8.3 billion) in net revenue in Q1, up 47.3 percent year on year, with its gross merchandise volume growing by 55 percent to about 129 billion yuan.

Orders rose by over 50 percent in the first three months with more than two thirds coming from mobile terminals such as smartphones.

National online retail sales were over one trillion yuan in the January-March period, up 27.8 percent year on year.

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