"During the first quarter, we made steady progress in all fronts. We added 2.5 million registered users, more than 458,000 storefronts and more than 43,400 paying members. This represents a key milestone as Alibaba.com surpasses 50 million registered users with 7.3 million storefronts and 658,701 paying members worldwide. We are particularly encouraged by the strong performance across revenue and net profit in the quarter. The quarterly revenue growth continued to accelerate and increased 49.3% year-over-year in the first quarter of 2010, compared with the 35.8% year-on-year growth in the fourth quarter of 2009. Despite generally weaker seasonality in the first quarter of the year, we maintained decent growth in recurring free cash flow and deferred revenue. Deferred revenue grew 43.6% year-on-year to reach RMB3.6 billion. These achievements showcased the strong execution by our team and confirmed Alibaba.com’s value to our small business customers."
Source: Company announcement of unaudited results, 13th May 2010
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