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 Alibaba revenues up 10.6% in Q3
 
CreateTime:2011-11-25     Source:Telecompaper Editor:heww
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China-based internet marketplace services provider Alibaba.com's revenues for the third quarter grew 10.6 percent to CNY 1.6 billion from CNY 1.4 billion in the year-ago period. Revenues from international marketplace increased 11.8 percent to CNY 947.5 million from CNY 847.1 million. Revenues from China marketplace increased 13.9 percent to CNY 560.7 million from CNY 492.1 million while other revenues fell 14.3 percent to CNY 94.2 million from CNY 109.9 million. The decrease was mainly due to non-cash accounting adjustments made by HiChina in connection with preparatory work relating to its proposed spin-off. Gross profit margin declined to 81 percent from 83.3 percent in the same period last year. The decline was primarily due to a higher cost of revenue stemming from the consolidation of financial results from Vendio, Auctiva and AliExpress, which have relatively lower gross profit margins. Net profit grew to CNY 405.3 million from CNY 365.7 million. As of September, international marketplace users increased by 2.1 million for a total of 23.8 million, while China marketplace recorded 49 million users. Cash and bank balances amounted to CNY 10.5 billion at the end of the period.

 


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