Chinese e-commerce giant Alibaba released its first quarterly financial results on Tuesday since successfully completing the world's biggest initial public offering in September.

The company's revenue increased by 53.7% to 16.829 billion yuan (about 2.742 billion U.S. dollars) in the quarter ending September 30, compared to 10.95 billion yuan in the same quarter of 2013.

Its net profits increased by 15.5 percent to 6.808 billion yuan, compared to 5.893 billion yuan in the same period of last year, the report said.

Alibaba's share price rose to 101.8 U.S. dollars on Monday, putting its market value at 250.9 billion U.S. dollars, greater than that of Walmart. Endi

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