Alibaba Group Q2 Adj. Profit Rises; Revenue Up 40%

(RTTNews) - Alibaba Group Holding Limited (BABA) said it has delivered revenue growth of 40 percent and adjusted EBITDA rise of 39 percent year-over-year for the quarter ended September 30, 2019. Annual active consumers on the company's China retail marketplaces reached 693 million, an increase of 19 million from the 12-month period ended June 30, 2019. In September 2019, the company's China retail marketplaces had 785 million mobile MAUs, representing a quarterly net increase of 30 million.

Excluding items, non-GAAP earnings per ADS in the quarter ended September 30, 2019 was RMB 13.10 or $1.83, an increase of 36 percent compared to RMB 9.60 in the same quarter of 2018. On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $1.50 for the quarter. Analysts' estimates typically exclude special items. Excluding one-time gain and certain other items, non-GAAP net income was RMB 32.75 billion or $4.58 billion, an increase of 40 percent year-over-year.

Second-quarter revenue was RMB 119.02 billion or $16.65 billion, an increase of 40 percent year-over-year. Analysts expected revenue of $16.47 billion, for the quarter.

Daniel Zhang, CEO of Alibaba Group, said: "Our digital economy continues to thrive and prosper. We aim to serve over one billion annual active consumers and help our merchants achieve over RMB 10 trillion in annual gross merchandise volume by end of fiscal 2024."

Shares of Alibaba Group was up nearly 2 percent in pre-market trade on Friday.