e-Commerce firm Alibaba.com has reported revenue of RMB1.53bn for the first quarter of 2011, an increase of 25.5% compared to RMB1.22bn for the same period last year. Revenue was up 0.7% sequentially.
The company posted a gross profit of RMB1.25bn, an increase of 22.3% compared RMB1.03bn for the same period a year ago.
For the quarter ended 31 March 2011, operating income increased to RMB483m, compared to RMB369m for the same quarter last year.
The company’s profit for the period increased to RMB451.3m, compared to RMB330.1m for the same quarter the prior year.
Revenue from China marketplace was RMB515.2m during the period, a 26.8% increase year-on-year, while revenue from international marketplace was RMB910.5m, a 26.6% increase year-on-year and 3.3% increase quarter-on-quarter.
Alibaba.com chief executive officer and executive director Jonathan Lu said their priority will be to enhance the value of their existing paying member base by focusing their resources on the development of quality supplier information on their marketplaces, giving their buy-side users a great experience when they use their websites, and enhancing trust and safety in online trade between buyers and suppliers.
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