eCommerce giant Alibaba Group (BABA), the only retail power touted to go toe-to-toe with Amazon (AMZN) posted its third-quarter 2019 results before the market opened on Wednesday, Jan. 30. Shares inched about 2.3% following the announcement on better-than-expected results.
Alibaba recorded a whopping 41% jump in revenue to about $17.06 billion (or RMB 117.3 billion) on robust growth in core-commerce and cloud-computing segments.
Net attributable income rose 37% year-on-year to $4.81 billion (or RMB 33.05 billion) while net income grew 33% to $4.5 billion in the quarter. Diluted earnings in the quarter was $1.84 per share, up 37%. Non-GAAP diluted EPS grew 15% to $1.77 in the same period.
Annual active consumers in Alibaba’s China retail marketplaces rose by 35 million from September, hitting a total 636 million. Mobile MAUs on the company’s China retail marketplaces reached 699 million in December 2018.
“Alibaba had another strong quarter. Our resilient operating and financial performance is a direct reflection of our persistent focus on better serving our growing base of nearly 700 million consumers across retail, digital entertainment and local consumer services,” said CEO Daniel Zhang.