CORRECTED - Alibaba profits in line with forecasts as revenues rise 54 pct

BEIJING (Reuters) - (Corrects to compare forecasts to non-GAAP net income)

Alibaba Group Holding Ltd reported quarterly results which showed net income rising 15.5 percent to $1.11 billion for the July-September period, meeting forecasts for the Chinese e-commerce giant's first quarterly report to Wall Street since its record-setting $25 billion listing.

The non-GAAP net income - which excludes the share-based compensation expenses and amortisation of intangible assets - compared with a consensus estimate of $1.17 billion based on a Thomson Reuters SmartEstimate poll of 21 analysts.

Revenue rose 53.7 percent to $2.74 billion, versus expected sales of $2.7 billion, its fastest growth in three quarters. Diluted earnings per share were $0.20, while non-GAAP diluted earnings per share were $0.45, up 9.4 percent year-on-year.

Mobile revenue was more than ten times higher than in the same period last year.

Alibaba shares were down slightly in pre-market trading in New York at $101.00, from $101.80 at Monday's close.

(1 US dollar = 6.1150 Chinese yuan)

(Reporting by Paul Carsten; Editing by Elaine Hardcastle; Editing by David Goodman)