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Alibaba profit surges 171% in 4th quarter

By Chen Limin in Beijing and Chen Jia in San Francisco | China Daily | Updated: 2013-05-09 06:02

E-commerce giant overtakes Tencent to be most profitable Internet firm

Alibaba Group Holding Ltd, China's biggest e-commerce company, has overtaken Tencent Holdings Ltd to become the country's most profitable Internet company after its net profit nearly tripled in the fourth quarter from a year earlier.

Analysts said the rapidly growing profit may help privately run Alibaba secure an initial public offering, although the company said it has no timetable yet.

Alibaba profit surges 171% in 4th quarter

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