Alibaba Group Holding Ltd. reported strong results in its latest quarter despite uncertainties about China’s economy, with users increasing spending and the company showing profit potential in segments beyond e-commerce, according to The Wall Street Journal. Revenue for the three months ended Sept. 30 exceeded analysts’ expectations, rising 55% to $5.14 billion from a year earlier, boosted by strong sales in core commerce, which was up 41%, and triple-digit growth in the company’s entertainment and cloud-computing segments. Net income, however, fell 66% to $1.14 billion from a year earlier because of a one-time gain last year from a revaluation of its health and pharmacy business. Excluding the gain, Alibaba’s net income a year earlier was $640 million. Alibaba shares rose 1.6% to $102.65 in early-morning trading.
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