Chinese e-commerce giant Alibaba said Tuesday its revenues leapt 54 percent year-on-year for the quarter ended in December, spurred by rapid growth in Chinese online shopping. Revenue for the company, seen as a benchmark for China's increasingly crucial consumer sector, reached 53.25 billion yuan ($7.7 billion) in the quarter, it said in a statement.
Its net income attributable to ordinary shareholders was 17.9 billion yuan ($2.57 billion) in the quarter, up 43 percent over the same period the previous year.
The result "demonstrates the strength of the Chinese consumer and Alibaba's ability to create value across our vast ecosystem", said Daniel Zhang, chief executive officer of Alibaba Group.
Alibaba is China's dominant player in online commerce, with its Taobao platform estimated to hold more than 90 percent of the consumer-to-consumer market. Its Tmall platform is believed to handle over half of business-to-consumer transactions.
Revenue from digital media and entertainment jumped 273 percent to $585 million due to increasing earnings from mobile services such as news feeds and game publishing and consolidating its management team, it said.
Sales in Alibaba's core commerce unit rose 45 percent year-on-year to $6.7 billion.
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