Alibaba net income drops in Q3

Hangzhou, China –- Alibaba Group Holding Ltd. reported net income of $494 million in the third quarter of fiscal 2014, down 39% from $803 million in the same quarter the prior year. Items including share-based compensation expense and the amortization of intangible assets helped drive down net income.



Revenue fared much better, rising 54% to $2.75 billion from $1.78 billion, mainly aided by Alibaba’s China commerce retail business. Mobile revenue soared 1,020% to $606 million from $54 million. The number of mobile monthly average users climbed 139% to 217 million from 91 million.



“We delivered a strong quarter with significant growth across our key operating metrics,” said Jonathan Lu, CEOr of Alibaba Group. Our business continues to perform well, and our results reflect both the strength of our ecosystem and the strong foundation we have for sustainable growth.”