Sales at Chinese e-commerce giant Alibaba jumped 56% in the last quarter of 2017 thanks to record spending during its Singles Day promotion.
Revenue for Q4 totalled ¥83.0bn (£9.3bn), up from ¥53.2bn in Q4 2016, producing net income of ¥23.3m.
A major contributor to the spending boom was Singles Day, something akin to a Valentine’s Day, on 11 November – what Alibaba calls its Global Shopping Festival – which generated total sales of ¥168.2bn, an increase of 39% on 2016.
At its peak, Alibaba Cloud processed 325,000 orders per second across 225 countries, with 1.48 billion payment transactions.
The Q4 results saw big gains across all core divisions: