E-commerce giant Alibaba posted 1Q17 net income of $1,075MM or $0.44 per share compared to $4,970MM or $1.92 per share in 1Q16, which included a non-recurring deemed disposal gain of RMB24,734MM arising from deconsolidation of Alibaba Pictures. Revenue for the quarter grew 59% to $4.84Bil. Excluding items, Alibaba earned $0.74 per share.