eCommerce firm Alibaba.com has reported revenue of RMB1.37bn for the second quarter of 2010, an increase of 48.6% compared to RMB919.3m for the same period last year. Revenue was up 10.4% sequentially.
The company posted a gross profit of RMB1.14bn, an increase of 45.5% compared to same period a year ago. Gross profit margin fell slightly to 83.4% in the period, compared to 85.2% in the same period last year.
For the quarter ended March 31, 2010, profit attributable to equity owners was RMB363.0m, an increase of 45.7% compared to same period a year ago. Total operating expenses were RMB752.9m, an increase of 32.6% compared to same period last year.
Revenue from China marketplace was RMB470.7m during the period, a 41.1% increase year-on-year, while revenue from international marketplace was RMB791.0m, a 37.6% increase year-on-year and 10.0% increase quarter-on-quarter.
Alibaba.com chief executive officer David Wei said that the company’s goal of focusing on customers and offering relevant value-added services that address its customers’ needs has once again resulted in a solid financial performance.
"We continued to build our membership base by enhancing our product offerings and followed our strategy to acquire technology through building, buying or partnering to meet customer needs," Wei said.
"In this quarter, we made our first international acquisition designed to help small businesses grow and prosper.
"Through the acquisition of the US-based company, Vendio, we are able to attract fast-growing US buyers to our wholesale transaction platform AliExpress and the main sourcing platform Alibaba.com, which helps not only those small businesses in the US but also our paying members in locations like China, India and Turkey."
