Alibaba posted sales of 34.3 billion yuan renminbi (€4.6bn-$5.1bn) for the quarter to Sept. 30, representing a 55 percent increase on an annualized basis. For the second consecutive quarter sales exceeded Wall Street's expectations.

Income from operations was RMB 9,045 million (€1,201.8m-$1,337.8m) against RMB 6,395 million in the comparable quarter last year. Adjusted Ebitda of RMB 15,875 million (€2,109.5m-$2,348.0m) compares with RMB 11,146 million last year.

The strong sales performance in the quarter was attributed by the company to its increasing ability to monetize its 450 million mobile users through new and innovative social commerce experiences. Sales in Alibaba's core businesses of selling goods to Chinese consumers jumped by 41 percent. Beyond the strong performance of its core business, Alibaba also recorded the continued and rapid growth of its cloud computing business, with revenue growth of 130 percent, as well as a considerable potential in its newer digital media and entertainment unit.

Alibaba's China retail marketplaces reached 439 million annual active buyers in the 12 months ended Sept. 30, 2016, as compared to 434 million in the 12 months to June 30, 2016. The average annual spend per active buyer for the 12 months to Sept. 30, 2016 continued to increase from the previous quarters, the company said.