Alibaba Group (NYSE:BABA) on Thursday reported solid growth in revenue and profit in the financial first quarter reflecting improvements in all business segments, strong momentum and a focus on operating efficiency. Daniel Zhang, chair and chief executive officer said: "Alibaba delivered a solid quarter as we continue to execute our reorganization, which is beginning to unleash new energy across our businesses." For the quarter ended June 30, the Hangzhou, China-based technology company said net income climbed 63% to RMB33.00 billion from EMB20.30 billion a year earlier beating Street forecasts of RMB28.66 billion. Diluted earnings per share rose 56% to RMB1.66 from RMB1.06 while revenue jumped 14% to RMB234.16 from RMB205.56 billion, ahead of forecasts of RMB224.92. Alibaba's main business, Taobao and Tmall Group, saw revenue rise 12% to RMB114.95 billion with the Taobao app for online shopping seeing a 6.5% rise in daily active users from a year ago.