HONG KONG — Alibaba, the Chinese e-commerce behemoth, reported on Tuesday a jump in profit in its first earnings announcement since its initial public offering in September.
Shrugging off a slowdown in the Chinese economy, Alibaba’s profit grew 16 percent from the same period a year earlier as the company’s sites benefited from the growing number of Chinese turning to the Internet to shop.
Shares in the company, China’s largest e-commerce retailer by transactions, have risen about 50 percent since it raised nearly $21.8 billion in the highly anticipated initial stock sale.
In a sign of the growing power of Chinese Internet companies, the listing surpassed the offering of Facebook, the American social media giant. Now with a market value of almost $250 billion, Alibaba is worth more than Facebook.
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