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Chinese e-commerce giant Alibaba today said its net profit for the three months ending December plunged 28% to $964 million, hit by a one-off charge and higher taxes.
However sales soared 40% to $4.219 billion, and earnings per share were up 13% to 81 cents.
Alibaba completed the world's biggest IPO with its listing on the New York Stock Exchange in September.
Headquartered in the eastern city of Hangzhou, Alibaba operates China's most popular online shopping platform, Taobao, which is estimated to hold more than 90 percent of the online market for consumer-to-consumer transactions.
