Alibaba.com, the massive B2B e-commerce company based in China, this morning published (PDF) its results for the third quarter of the year. The company reported a 11.9 percent increase (to $64 million) in its Q3 net profit, with revenues rising 10.6 percent to $250 million, year-over-year.
This was below Wall Street expectations; Alibaba blamed a weak U.S. economy, a decline in manufacturing, the eurozone debt crisis and on-going platform enhancement activities for missing analysts’ forecasts.
During Q3 2011, Alibaba.com attracted roughly 4 million new users for a total of 72.8 million registered users, and now hosts more than 360,000 new storefronts for a total of 9.6 million.
The number of paying members declined in the third quarter by 27,725, to reach a total of 787,653, for which Alibaba blames the execution of its long-term ‘enhancement’ plans.
Operating expenses rose a considerable 13 percent.
The Alibaba Group, which Yahoo has a 40 percent stake in, has reportedly been in talks with PE firms about making a bid for Yahoo. Microsoft has also signed a non-disclosure agreement with Yahoo to take a good look at its books.
Alibaba.com is a B2B e-commerce company. Alibaba’s primary business is to serve as a directory of Chinese manufacturers connecting them to other companies around the world looking for suppliers. According to iResearch, it was the largest online B2B company in China in 2006 based on the number of registered users and market share in China by revenue. Yahoo is currently a 40% share holder in the parent Alibaba Group. They operate two marketplaces; the first is an international marketplace based...
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