NEW YORK: Alibaba Group Holding reported quarterly results, showing a 15 percent rise in its net income to $1.11 billion (HK$8.65 billion) for the July- September period, meeting forecasts.
It was the mainland e-commerce giant’s first report to investors since its record-setting $25 billion listing in September.
The non- Generally Accepted Accounting Principles net income – which excludes the share- based compensation expenses and amortisation of intangible assets – compared with a consensus estimate of US$1.17 billion based on a Thomson Reuters SmartEstimate poll of 21 analysts.
Revenue rose 53.7 percent to US$2.74 billion, versus expected sales of US$2.7 billion, its fastest growth in three quarters. Diluted earnings per share were US$0.20, while non-GAAP diluted earnings per share were US$0.45, up 9.4 percent year-on-year.
