SHANGHAI May 8 China's Alibaba Group Holding
Ltd posted a 171.1 percent jump in net profit in the
fourth quarter as its revenue rose 84 percent, according to a
regulatory filing by major shareholder Yahoo Inc.
For the quarter ending December 2012, net income
attributable to Alibaba Group was $642.2 million while its
revenue for the period was $1.84 billion, the filing said.
Yahoo, which owns about 24 percent of Alibaba, reported the
privately held online shopping giant's results as part of a
document filed to the U.S. Securities and Exchange Commission.
Industry watchers widely expect Alibaba to seek an initial
public offering as early as this year and some say the company
could fetch a valuation as high as Facebook Inc's $100
Late last month, Alibaba bought an 18 percent stake in Sina
Corp's popular microblogging platform, Weibo, for $586
For Alibaba's financial year ending September 30, the
company reported a 78 percent rise in revenue to $4.1 billion
while net profit attributable to the company rose 80.8 percent
to $484.5 million. Alibaba's October-to-December period was
previously the first quarter but that was recently changed.
Alibaba is China's largest e-commerce company offering
platforms where millions of Chinese shop for everything from
kitchen appliances to clothes.