eCommerce firm Alibaba.com has reported revenue of RMB1.22bn for the first quarter of 2010, an increase of 49.3% compared to RMB817.4m for the same period last year. Revenue was up 10.4% sequentially.
The company posted a gross profit of RMB1.03bn, an increase of 45.7% compared with RMB704.2m for the same period a year ago. Gross profit increased by 7% compared with the RMB958.9m earned in the fourth quarter of 2009.
Gross profit margin fell slightly to 84.1% in the period, compared to 86.2% in the same period last year and 86.7% in the fourth quarter of 2009.
For the quarter ended March 31, 2010, profit attributable to equity owners was RMB330m, an increase of 33.8% compared to RMB246.7m for the same period a year ago.
Revenue from China marketplace was RMB406.1m during the period, a 39% increase year-on-year, while revenue from international marketplace was RMB718.9m, a 42.2% increase year-on-year and 4.6% increase quarter-on-quarter.
As of March 31, 2010, the company had 658,701 paying members, representing a 36.8% increase from March 31, 2009, and a 7.1% increase from the end of previous quarter.
David Wei, chief executive officer of Alibaba.com, said: “We are cautiously optimistic in global economic recovery in the coming quarters and believe that the further pickup in external demand will benefit export-related business activities in China.
Alibaba.com has proclaimed 2010 to be a ‘Year of Customer Service,’ and we remain committed to making improvements in our business model and product offerings in order to create value for our customers.”
