In an internal letter from Alibaba’s legendary founder Jack Ma, he said that company has booked historical performance records last year. The fiscal report released by Yahoo!, a major shareholder which holds a 24% stake in the company, gives us a more detailed overview about Alibaba’s performance in 2013.
The Internet giant generated $1.78 billion of revenues in the three-month period ended on Sep. 2013, up 51% YOY. Although Q3 revenue is higher than $1.38 million for Q1 and $1.74 million for Q2, the revenue growth rate is down from 71.4% and 61.3% for the first and the second quarter of 2013, respectively.
The report added that Alibaba’s gross profit increased by 58% YOY to $1.26 billion, while its operating profit amount to $786 million, swinging to profitability YOY. The company’s net profit soared 163.1% YOY to $800 million in the same period.
Although Alibaba’s IPO is still pending, the capitalists have shown interests in the company. Tiger Global Management,a top-performing U.S. technology investment firm, have acquired round $200 million worth of shares in Alibaba at a valuation of $125 billion.