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The company's U.S.-listed shares inched up,
adding to their 23% gain this year.
The results come as U.S.-listed Chinese companies face renewed
heat and President Donald Trump has said he could exert pressure
on more Chinese companies after he moved to ban TikTok, owned by
China's ByteDance.
The White House has been piling pressure ahead of the
presidential election in November and financial markets are
watching for signs of whether it will lead to further
tit-for-tat moves that could hit a global recovery.
Sales from Alibaba's core commerce business jumped 34% to 133.32
billion yuan ($19.27 billion) in the first quarter ended June.
"Our domestic core commerce business has fully recovered to
pre-COVID-19 levels across the board, while cloud computing
revenue grew 59% year-over-year," Chief Financial Officer Maggie
Wu said in a statement.
On Monday, JD.com <9618.HK> beat analysts' estimates for
quarterly sales, while Pinduoduo Inc <PDD.O> is expected to
report second-quarter results on Friday. Alibaba's net income
attributable to ordinary shareholders rose to 47.59 billion yuan
from 21.25 billion yuan.
Excluding items, the company earned 14.82 yuan per American
depository share (ADS). Analysts had expected 13.78 yuan per
ADS, according to IBES data from Refinitiv.
Total revenue rose about 34% to 153.75 billion yuan in the,
slower than the 42% growth in the same quarter last year.
Analysts had expected revenue of 147.77 billion yuan.
($1 = 6.9189 Chinese yuan renminbi)
(Reporting by Nilanjana Basu and Akanksha Rana in Bengaluru and
Josh Horwitz in Shanghai; Editing by Sriraj Kalluvila)
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