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Alibaba announces profits of $ 12.23 billion in the first quarter, up 61% annually

2018-08-23 11:58 am | Resource: News | No Views : 77

China's Alibaba Electronic Trading Group Limited said Thursday its revenue in the first quarter of fiscal year 2019 was $ 12.23 billion, up 61 percent from the same period last year. The e-commerce giant said earnings per share for the period were $ 0.50, down 42% year-on-year, mostly due to the increase in equity-based bonus expenses.

Meanwhile, Alibaba said its net income in the first quarter of this year was $ 1.2 billion, down 45 percent from the same three months in 2018. The company said that annual active consumers reached 576 million in the Chinese retail market, up 24% . Compared to the previous quarter, while the number of active monthly users on mobile 634 million users, up 17% quarter-on-quarter.

"Baba had another excellent quarter, with significant user expansion and stronger participation through our growing ecosystem," said Alibaba Group CEO Daniel Chang. "Our business in the retail market in China continues to gain more, Further revenue growth and enable our retail partners to serve customers smoothly. " .

After the quarterly results were released, Alibaba jumped 3.63% in pre-sale trading on Wall Street.

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