Alibaba Group Q2 Net Income Rises; Revenue Up 5%

(RTTNews) - Alibaba Group Holding Limited (BABA) reported second quarter net income of RMB 43.6 billion or $6.21 billion, an increase of 63% year-over-year, primarily attributable to the mark-to-market changes from equity investments, decrease in impairment of investments and increase in income from operations. Earnings per ADS was RMB 18.17 compared to RMB 10.77. Non-GAAP net income was RMB 36.5 billion or $5.2 billion, a decrease of 9% compared to a year ago. Non-GAAP earnings per ADS was RMB 15.06, a decrease of 4% year-over-year.

Second quarter revenue was RMB 236.50 billion or $33.70 billion, an increase of 5% year-over-year.

"Our revenue growth this quarter was driven by improving monetization of Taobao and Tmall Group, which included GMV-based service fees and merchant adoption of our marketing tool Quanzhantui. Consistent with our strategy, we continue to invest in our core businesses while enhancing operational efficiency," said Toby Xu, CFO of Alibaba Group.

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