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.

Alibaba’s Daniel Zhang at the Global Shopping Festival event | Source: www.alibabagroup.com

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.

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“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.

Alibaba third quarter 2019 earnings result infographic

 

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