Chinese online shopping giant Alibaba Group Holding today reported a 55% rise in second-quarter revenue, beating analyst estimates on the back of core e-commerce sales and strong media and entertainment growth.
It was a second quarter of robust results for the company in a row.
This suggests that it can still generate strong growth even as worries abound about the health of China's economy and its retail sector.
China's biggest e-commerce firm is currently gearing up for its November 11 Singles' Day shopping festival.
The event is a yardstick for both the company and the health of the Chinese retail sector, although the USs Securities and Exchange Commission is currently investigating the accounting methods and system Alibaba uses to report its Single's Day figures.
Alibaba said the investigation would not interfere with its performance on Singles' Day.
The company has also been looking to increase cross-border sales volumes as the Chinese market becomes increasingly saturated.
It is has been expanding its footprint abroad, buying Southeast Asian online retailer Lazada Group for roughly $1 billion in May.
Alibaba said it generated revenue of 34.3 billion yuan ($5 billion) in the three months to September 30, beating an average estimate of 33.9 billion yuan in a Thomson Reuters poll of 24 analysts.
Revenues at the company's core commerce business jumped 41% from the previous year to 28.49 billion yuan, dominated by sales within China.
The company's media and digital entertainment business, which was united under a new entity earlier this week, saw revenues rise 302% from the same period a year earlier, due mostly to the consolidation of Youku Tudou.
Net income attributable to shareholders fell to 2.97 yuan per share, a 67% drop from 8.87 yuan a share in the same quarter a year ago.
Alibaba attributed that drop to a one-off revaluation gain of 18.6 billion yuan ($2.75 billion) a year earlier from its equity interest in Alibaba Health.