Alibaba revenue growth up, earnings down in first quarterly report

Alibaba’s (BABA.NYSE) first quarterly earnings report showed revenue growth of 54% to US$2.74 billion, though stock awards given to employees and executives before the company’s IPO contributed to earnings falling 39% year-on-year to US$494 million, The Wall Street Journal reported. Together with those stock awards, increased expenses aimed at mobile customers and the cost of integrating two Chinese Internet firms pushed Alibaba’s operating-profit margins to 25.8% in the quarter, compared to 47.9% a year earlier.