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Alibaba Group's Q4 net profit up 171%

Staff writer |
Alibaba Group reported a 171.1 percent jump in net profit in the fourth quarter. Its revenue rose 84%, according to a regulatory filing by major shareholder Yahoo Inc.

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For the quarter ending December 2012, net income attributable to Alibaba Group was $642.2 million while its revenue for the same period was $1.84 billion.

Based on the second-quarter results, Alibaba Group is the second-largest Chinese Internet company by revenue, behind Tencent Holdings and ahead of Baidu Inc. It is the last larg internet company in China that is still in private hands.

Alibaba, which runs the Taobao Marketplace, China's largest business-to-consumer e-commerce website, and Alibaba.com, China's largest business-to-business platform, has a business model that revolves around online advertising and subscription fees.

For Alibaba's financial year ending September 30, the company reported a 78 percent rise in revenue to $4.1 billion. Net profit attributable to the company rose 80.8 percent to $484.5 million.


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