Alibaba said net income rose 58% year-on-year to 43.9 billion Chinese yuan ($6.07 billion) in the company's quarter ending Sept. 30, on the back of the performance of its equity investments.
This compared with a LSEG outlook of 25.83 billion yuan.
Revenue, meanwhile, came in at 236.5 billion yuan, 5% higher year-on-year but below an analyst forecast of 238.9 billion yuan, according to LSEG data.
Investors are closely watching the performance of Alibaba's main business units, Taobao and Tmall Group, which reported a 1% annual uptick in revenue to 98.99 billion yuan in the September quarter.
The e-commerce giant's overseas online shopping businesses, such as Lazada and Aliexpress, meanwhile posted a 29% year-on-year hike in sales to 31.67 billion yuan.
Persons:
Alibaba, —
Organizations:
Tmall, ING
Locations:
York, London, Beijing