Japan's Rakuten posts increase in Q3 revenue
Rakuten, the Japanese e-tailer, had a successful third quarter. Revenue in the period rose by 23.8% to 182.7bn yen (US$1.5bn), while its non-GAAP operating income was up 13.3% year-on-year to 34.4bn yen (US$282.7mn).
The company's global e-book business, consisting of Kobo + OverDrive, delivered its first quarterly non-GAAP EBITDA profit. Revenue for Rakuten's domestic e-commerece, including travel, was up by 11.7% year on year.
Rakuten Ichiba's mobile ratio rose 51.3% year-on-year. The number of merchants on Rakuten is now at a record high, with 77% of merchants selling over 100 products, compared with 10-20% at competitors.
Rakuten also revealed its cross-border trading results have risen by 50% year-on-year. Sales to China were up 101%, sales to the US 82% and sales to HK 77%.
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