Alibaba Group posted a quarterly profit for the three-month ended 30th September 2013. Net income attributable to shareholders in the period was US$792 million – that is a 12% increase compared to the previous quarter.
Alibaba’s revenues in the quarter jumped 51% year-on-year to reach US$1.78 billion. Compared with the previous quarters however, this represents a slowdown from the growth of 61% and 71% recorded in Q2 and Q1 respectively. However, Alibaba outperformed its key industry peers as Tencent posted revenue growth of 34% in their most recent financial quarter.
Source: Business Strategies Group Hong Kong – www.bsgasia.com