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Alibaba opg profit falls on option costs, revenues up 28%
2015-08-12 15:06:00| Telecompaper Headlines
(Telecompaper) Alibaba Group reported second-quarter revenues up 28 percent year-on-year to CNY 20.25 billion. The company saw the amount of merchandise sold on its Chinese e-commerce platforms grow by 34 percent year-on-year and 12 percent compared to the first quarter to CNY 673 billion. Purchases over mobile devices grew even faster, more than doubling compared to the same period of 2014 to CNY 371 billion. Monthly active users of its sites were up 63 percent year-on-year to 307 million, and the number of active buyers in the past 12 months rose 32 percent to 367 million. The company increased adjusted EBITDA 23 percent year-on-year to CNY 10.59 billion, but operating profit was down 25 percent to CNY 5.16 billion due to the costs of stock options. Alibaba said that excluding the cost of stock-based compensation, its operating profit would have increased 16 percent in the period. Net profit still more than doubled, to CNY 30.82 billion from CNY 12.44 billion a year ago, due to a one-time gain of CNY 24.73 billion from spinning off its films business Alibaba Pictures.
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Category:Telecommunications