Alibaba Group (HKG:9988) recorded a 239% surge in attributable net income for the three months ended Dec. 31, 2024, to 48.9 billion yuan from 14.4 billion yuan in the year-ago period.
Earnings per share stood at 2.55 yuan, up from 0.71 yuan in the corresponding period of the previous fiscal year, a Thursday filing with the Hong Kong bourse stated.
The Chinese e-commerce giant's revenue rose 8% year over year to 280.2 billion yuan from 260.3 billion yuan.
For the nine months ended Dec. 31, 2024, attributable net income and revenue came in at 117.1 billion yuan and 759.9 billion yuan, respectively.
The firm attributed the boost in profit to higher income from operations, mark-to-market changes from its equity investments, and an increase in the share of results of equity method investees.
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