Alibaba Q1 net down 15.7% as revenue rises 18.6%

Alibaba.com, a leading business-to-business (B2B) e-commerce company in China, said late Wednesday its revenue rose 18.6 percent year-on-year to 806.6 million yuan ($118.3 million) in the first quarter, while its net profit dropped 15.7 percent to 253.4 million yuan.