CCTV Script 05/11/14


— This is the script of CNBC's news report for China's CCTV on November 5, Wednesday.

Welcome to the CNBC Business Daily, I am Chen Qian.

Alibaba shows it's not a one-trick pony.

The Chinese e-commerce giant's first results since going public easily beating the Street.

Revenue in the September quarter doubled to $2.7 billion.

While earnings per share came in at 45 cents.

Margins disappointed, sliding to a two-year low of 50.5 percent, but investors glossed over the weakness, impressed by Alibaba's mobile growth and expansion plans

[JOSEPH TSAI / EXECUTIVE VICE CHAIRMAN, ALIBABA] "We have just recently decided to make a big push into the lesser developed areas of China where only 9% of the population is on e-commerce. We think growth potential was very, very good. We think this will help us to develop a strategy where we help those that are in the villages that are farming, small business and small consumers and help them to grow as they acquire more economic spending power."

In its first quarterly results since become a listed company, Alibaba said active users grew 52 percent and that mobile penetration had rise to a 1.87 percent rate.

CNBC's David Faber asked Alibaba's Vice Chairman, Joe Tsai, about his mobile targets

[JOSEPH TSAI / EXECUTIVE VICE CHAIRMAN, ALIBABA] "Our mobile gmv tracks well. Alibaba is very much a mobile company. We are also doing very well in terms of monetization. That's because the users coming to use our mobile apps have strong commercial intent. It's no different than when they come to the desktop. We feel very good, very confident about the users' behavior on mobile. In september, there's 217 million mobile active users using the app. We feel very good about it and the trend continues to do well."

Alibaba shares hit a record high after the company blew past expectations.

Analysts who follow Alibaba have been issusing upgrades to the stock..

One concern though was profit margins which sank to a 2 year low of 18%.

And the company - which has spent some $6bn this year alone in various acquisitions - indicated that shopping spree may not be over yet.

I'm Qian Chen, reporting from CNBC's Asian headquarters.

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