Alibaba's revenue up by 54%, net income by 15%

Meanwhile, profit margins shrank to a two-year low of just 18 per cent, but meets forecasts

BEIJING: Alibaba Group Holding Ltd reported quarterly results which showed overall revenue rising by 54 per cent and net income rising by 15.5 per cent to $1.11 billion for the July-September period, meeting forecasts.

It was the Chinese e-commerce giant's first report to investors since its record-setting $25 billion listing in September.

The non-GAAP net income - which excludes the share-based compensation expenses and amortisation of intangible assets - compared with a consensus estimate of $1.17 billion based on a Thomson Reuters SmartEstimate poll of 21 analysts.

Revenue rose 53.7 per cent to $2.74 billion, versus expected sales of $2.7 billion, its fastest growth in three quarters. Diluted earnings per share were $0.20, while non-GAAP diluted earnings per share were $0.45, up 9.4 per cent year-on-year.

"We delivered a strong quarter with significant growth across our key operating metrics," said Jonathan Lu, chief executive officer of Alibaba in its earnings statement.

Mobile revenue was more than ten times higher than in the same period last year and accounted for 22 per cent of total revenues, as Alibaba continued to successfully ramp up its mobile monetisation.

Meanwhile, profit margins shrank to a two-year low of 18 per cent.

The shares were flat in pre-market trading in New York, from $101.80 at Monday's close. The stock has risen about 50 per cent from its debut price.