However, shares dipped in NY trading, down 1.3pc, as investors took the results as a sign growth was waning, given Alibaba's revenue had grown more than 50pc for the 10 consecutive quarters prior to the most recent results.
Much anticipated regulation of e-commerce in China isn't likely to be very disruptive, and the economy is poised to improve a bit later this year, according to a note from UBS analysts emailed to Retail Dive.
Alibaba said revenue from core commerce rose 40% year-on-year to 102.8 billion yuan ($15.30 billion) in the December quarter.
Revenue for its cloud business rose 84 per cent year-on-year to 6.6bn yuan, while its entertainment and media business rose 20 per cent to 6.5bn yuan.
In September, Alibaba cut its fiscal year 2019 revenue guidance to between 375 billion yuan and 383 billion yuan, representing a 4 percent to 6 percent decrease from its previous target.
Net profit reached $4.9 billion in the October-December third quarter. In addition, China's tier-3 and below cities are a new major area of growth as more than 70% of Alibaba's active users come from these areas.
Tech investors have fretted over the impact of a slowing Chinese economy and a crippling Sino-U.S. trade war, which have been blamed for weak results at a slew companies including Apple Inc and chipmakers. Another highlight of the forth quarter would be the double eleven global shopping festival, when Cainiao, the logistics arm of Alibaba processed over 1 billion delivery orders. "Our resilient operating and financial performance is a direct reflection of our persistent focus on better serving our growing base of almost 700 million consumers across retail, digital entertainment and local consumer services", said Daniel Zhang, Chief Executive Officer of Alibaba Group.
In 2018, even though Alibaba netted a record $30 billion from Singles' Day, annual growth dropped to the weakest rate in the event's ten-year history, as a slowing China and trade tensions chilled sentiment.
Last year, the economic growth of China slowed to its weakest in almost 30 years, with the growth expected to decline even further in 2019.
In other words, Alibaba has a lot of irons in a fire that is still burning brightly, despite recent headlines.
Alibaba's chief executive officer, Daniel Zhang, called the quarter "strong" for the company.