Alibaba's net income doubles

Thanks to my colleague Mark for this quick update. It looks like a very
strong set of numbers from Alibaba:

I have not read the whole thing yet, but net income more than doubled
excluding the one time gain from over-subscriptions of the IPO. That is
quite impressive!

First Quarter 2008 Highlights:

• Total revenue increased to RMB680.1 million, an increase of
  53.2% year-on-year and 7.2% quarter-on-quarter.
• Gross profit was RMB601.2 million, an increase of 55.5%
  year-on-year and 8.6% quarter-on-quarter.
• Operating profit was RMB311.9 million, an increase of 81.0%
  year-on-year and 67.1% quarter-on-quarter.
• Operating profit margin increased to 45.9% from 38.8% in
  the first quarter of 2007 and 29.4% in the fourth quarter of 2007.
• Net income (Profit attributable to equity owners) was
  RMB300.7 million, an increase of 111.7% year-on-year and 162.0%
  quarter-on-quarter, excluding the one-off interest income we received from
  oversubscriptions during our IPO in the fourth quarter of 2007.
• Earnings per share, basic and diluted ("EPS") was 6.47 Hong
  Kong cents, an increase of 118.6% year-on-year and 160.9%
  quarter-on-quarter, excluding the above mentioned one-off interest income in
  the fourth quarter of 2007.

http://www.alibaba.com/aboutalibaba/releases_080506.html

Bloomberg story:

http://www.bloomberg.com/apps/news?pid=newsarchive
<http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aIkd4XnXvYqw>
&sid=aIkd4XnXvYqw