The results come at a tricky time for Chinese commerce businesses, given the broad sluggishness in the world's second-largest economy.

Alibaba Group Holding Ltd. (NYSE: BABA) reported a notable increase in net income for its fiscal second-quarter ending September 30, beating Wall Street's profit expectations despite facing challenges in consumer spending amid a weakening Chinese economy.

Alibaba Group, China's e-commerce, entertainment and tech giant, reported a 5% increase in revenues to RMB237 billion ($33.7 billion) in the three months to September. It reported a 63% increase in net profits to RMB43.