According to a regulatory filing by shareholder Yahoo, which holds a 24 percent stake in the company, Alibaba’s net profits for the three months to December 2012 rose to $642 million from $237 million the previous year. Meanwhile revenues were more than 80 percent higher during the same time period.
Alibaba is the biggest player in China's fast-growing e-commerce market and operates online platforms Alibaba.com, Taobao and Tmall, which connect small sellers and major companies with consumers and business partners. Its revenues predominantly come from advertisements on its websites and customer fees.
Alibaba’s strong earnings are part of wider growth in China's ecommerce industry, which, according to experts, is set to surpass the US in the coming years.
