• 23-APR-2012

  • SOURCE: Alibaba.com

Alibaba.com Reports Net Profit of RMB339.2 Million in Q1 2012

Alibaba.com Limited (HKSE: 1688) (1688.HK), the world's leading small business e-commerce company, today announced unaudited financial results for the quarter ended March 31, 2012. In the first quarter, Alibaba.com stepped up its efforts to upgrade the trustworthiness of suppliers and enhance the user experience. Although Alibaba.com reported a profit of RMB339.2 million (USD53.8 million), its financial growth slowed compared with previous years as a result of business model upgrades and the strategic shift in focus to the quality of the marketplace and buyer experience.