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The company has sharpened its focus on a wholesale marketplace, second-hand goods trading platform, office chat app, and search and cloud storage solution
Alibaba Group saw its revenue increase 9 per cent year over year to US$30,810 million for the quarter ended September 30.
Alibaba lost more than $21 billion in market cap off the back of its ill-fated cloud spinoff plans, according to CNBC calculations of data from FactSet.
Alibaba Group stunned investors when it announced that it would suspend the listing plan of its cloud computing unit, while also revealing that cofounder Jack Ma intends to sell some of his shares.