In the third quarter, Chinese Alibaba performed (even) better than what analysts had expected. The company’s turnover rose by 55%, but net profit fell due to a one-time benefit last year.
More mobile users
Alibaba’s third quarter turnover grew 55 % to 34.3 billion yuan (4.5 billion euro), slightly outperforming analysts’ expectations which stood at a growth of 54 %.
Net profit dropped 66 % to 7.1 billion yuan (950 million euro), but that was down to a one-time benfit last year, bringing in an additional 18.6 billion yuan (2.49 billion euro) at the time. If that is excluded, then this year’s third quarter net profit would have grown 46 %.
That is why Alibaba is boasting about a wonderful quarter, with a 23 million surge in mobile users compared to the second quarter. Its mobile reach is now 450 million people, while the number of active customers grew another 5 million to 439 million.
