Alibaba is popping after earnings (BABA)

Alibaba Group Holding Limited reported strong first quarter earnings for the 2018 fiscal year for the quarter ended on June 3th 2017

ALIBABA Group said revenue in the second quarter surged 56 percent to US$7.4 billion amid strong growth in its online retailing platform and other business segments.

Alibaba's total revenue rose 56 percent to 50.18 billion yuan ($7.52 billion or 4.42 billion euros) for the three months ended June 30, causing net income to almost double to $2.17 billion - a rise by 94 percent.

The company's annual active consumers (formerly defined as annual active buyers) on its Chinese retail marketplaces reached 466 million RMB, an increase of 12 million from the 12-month period ended March 31.

CEO Daniel Zhang Yong also confirmed during a conference call held shortly after the results came out that the company had led a $1.1 billion investment in Tokopedia, the Southeast Asian retailer. "We are excited about the future as we continue to innovate and drive synergies among the businesses throughout the Alibaba ecosystem".

Alibaba also enjoyed a robust growth in its cloud computing business during the quarter, with an explosive 96% revenue growth from a year ago to 2.43 billion yuan.

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Equity attributable to shareholders of the parent company amounted to 425.9 million yuan, up 11 per cent from the beginning of the year.

While the company explores new revenue streams with projects related to data, cloud computing, artificial intelligence and logistics, e-commerce continues to generate the vast majority of Alibaba's revenue.

Combined with 30% rise in digital media and entertainment revenue and a 21% increase in innovation initiatives, Alibaba has tons of long-term revenue drivers. Worldwide revenues reached 2.6 billion yuan in the latest quarter, up 136 percent year-on-year.

"The significant growth in customer management revenue represents the differentiated business value we provide to our customers", said Maggie Wu, CFO of Alibaba Group. Alibaba is also pouring more money into e-commerce.

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