Alibaba’s 2009 revenues jump 29%, net income down 12%

Alibaba.com just released its 2009 financial results this afternoon. Revenues were an impressive US$567.5 million, a 29% increase over last year’s US$440 million. Net income fell significantly dropping from US$169 million to US$148 million - down more than 12%. On the upside, fourth quarter net income was up nearly 49% at US$41.2 million. The Hangzhou crew are also sitting on a mountain of cash – US$1.1 billion. That should see them through any recession.

Ali also added 9.6 million registered users in 2009 – a year-on-year increase of 25%. The company now has 47.7 million registered users. 11.5 million on its International Marketplace and 36.2 million on its China Marketplace. The International Marketplace, which generates most of the revenues, saw registered users grow by 46% last year.

Global Sources’ share price jumped 7.5% last night on news of declining revenues. Stay turned to see what Alibaba does tomorrow.