Alibaba CEO Lu Says Revenue in Coming Quarters to Be ‘Flat’

Alibaba.com Ltd. (1688)’s revenue in the coming quarters will be “flat” compared with the level in the first three months this year, as the company tightens screening of customers, Chief Executive Officer Jonathan Lu said.

Revenue growth in 2011 will slow compared with previous years, Lu said in a conference call today. The company lost customers for its “China Gold Supplier” program for Chinese exporters in the first quarter, he said.

“We expect revenue to grow, but the rate will not be the same as in the previous years,” Lu said. “The view of the revenue for coming quarters would be relatively flat compared to first quarter, but it will represent continued growth from 2010.”

Alibaba.com, owner of China’s biggest online-commerce site for businesses, increased first-quarter revenue 25 percent to 1.53 billion yuan ($235 million), the company reported today. Net income rose 37 percent to 452.5 million yuan.

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.