Alibaba (NYSE: BABA) reported Q2 EPS of $1.29, $0.26 better than the analyst estimate of $1.03. Revenue for the quarter came in at $8.29 billion versus the consensus estimate of $7.85 billion.

“We had an outstanding quarter. Our consumer insights and technology innovation were the key drivers behind our customer value proposition across the Alibaba economy,” said Daniel Zhang, Chief Executive Officer of Alibaba Group. “We are seeing the early results from our efforts to integrate online and offline with our New Retail strategy, and consumers have benefited from access to high quality products, improved customer experience and the tremendous convenience of shopping anytime, anywhere.”

“This quarter we delivered excellent results, with overall revenue growth of 61% demonstrating the robust momentum in our core commerce business and across the Alibaba economy,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We generated approximately US$3.4 billion in non-GAAP free cash flow during the quarter,1 which enables us to invest in our future growth areas of core commerce, including logistics, cloud computing, digital entertainment and other innovation initiatives.”

In the quarter ended September 30, 2017:

• Revenue was RMB55,122 million (US$8,285 million), an increase of 61% year-over-year.
• Revenue from core commerce increased 63% year-over-year to RMB46,462 million (US$6,983 million).
• Revenue from cloud computing increased 99% year-over-year to RMB2,975 million (US$447 million).
• Revenue from digital media and entertainment increased 33% year-over-year to RMB4,798 million (US$721 million).
• Revenue from innovation initiatives and others increased 27% year-over-year to RMB887 million (US$134 million).
• Annual active consumers on our China retail marketplaces reached 488 million, an increase of 22 million from the 12-month period ended June 30, 2017.
• Mobile MAUs on our China retail marketplaces reached 549 million in September 2017, an increase of 20 million over June 2017.
• Net income was RMB17,408 million (US$2,616 million), income from operations was RMB16,584 million (US$2,493 million) and adjusted EBITDA was RMB25,031 million (US$3,762 million). Operating margin was 30%, adjusted EBITDA marginwas 45% and adjusted EBITA margin for core commerce was 57%.
• Diluted EPS was RMB6.78 (US$1.02) and non-GAAP diluted EPS was RMB8.57 (US$1.29).
• Net cash provided by operating activities was RMB30,507 million (US$4,585 million) and non-GAAP free cash flow was RMB22,505 million (US$3,383 million).

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