Alibaba said its net profit for the quarter through March rose 42%, while revenue increased 51%.
Some good news for investors in the report was that the company’s revenue from mainstay commerce operations remained strong, rising 54%, analysts said. The growth comes despite China’s economic slowdown, which is creating a harsher environment for retailers.
Some Alibaba investors have told The Information they don’t like Alibaba’s deep involvement in loss-making entertainment businesses such as the Youku online video site and Alibaba Pictures.
But such skepticism may stay rather muted as long as the core ecommerce business keeps growing at a healthy rate.