Alibaba profit rises 85% to $810 million
China-based e-commerce firm Alibaba Group on Thursday reported an 85% year-on-year surge in net profit for the quarter ended March to 5.3 billion yuan (around $810 million). Revenue for the quarter rose 39% to 24.2 billion yuan ($3.7 billion). Better revenues from the company's mobile advertisements helped the rise as it deepened its push into rural domestic regions, analysts said.