Alibaba's profit and revenue grew by a third in the 3rd quarter

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Alibaba Group Hodling Ltd. increased net profit by 37% over the 3rd fiscal quarter. The figure rose to 33.05 billion yuan against 24.07 billion yuan last year. Per-share earnings rose from 9.2 yuan to 12.64 yuan, the company said in a press release. Excluding one-time factors, earnings were 12.19 yuan per share versus 10.61 yuan last year. Experts surveyed by FactSet had predicted a profit of 11.45 yuan per paper. The volume of e-commerce operations grew by 40% to 102.84 billion yuan, revenues from the cloud business grew by 84% to 6.61 billion yuan. The entertainment and digital media segment increased revenues by 20% to nearly 6.5 billion yuan. Last year, 666 million people used Alibaba services. In 2018, their number increased to 699 million people. The company owns the largest e-commerce platforms in China. 80% of e-commerce in the country accounts for Alibaba products.

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