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Alibaba Quarterly Revenue Grows 32 Pct

Alibaba Group announced on the night of January 28 that its third quarter revue jumped 32 percent year on year to 34.5 billion yuan ($5.3 billion).

The company's attempts to monetize user activity on mobile devices helped its mobile revenue soar 192 percent year-on-year to 18.8 billion yuan ($2.89 billion) in the October to December period.

"We remain focused on our top strategic priorities, including global imports, rural expansion, increasing our footprint in first-tier Chinese cities and building a world-class cloud computing business," Alibaba CEO Daniel Zhang said.

The company said its net income attributable to ordinary shareholders surged 111 percent year-on-year to 12.5 billion yuan ($1.92 billion)  in the third fiscal quarter.

The quarterly gross merchandize volume transacted on the company's China retail marketplaces rose 23 percent year-on-year to 964 billion yuan ($148.09 billion) .

The report buoyed investor confidence in the New York-listed company, pushing its stock price up more than four percent in pre-market trading.

At the end of 2015, Alibaba had 407 million annual active buyers in China.

(Xinhua News Agency January 28, 2016)

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