Alibaba's non-GAAP profit increased 38% to CNY20.7 billion (USD3 billion) in the fiscal first-quarter ended June 30, the Chinese tech giant's financial report showed today. Revenue rose 9% to CNY269 billion (USD40 billion). Alibaba [HKG: 9988] closed 1.6% higher at HKD126.20 (USD16.09) in Hong Kong today, while in pre-market trading in New York, its stock [NYSE: BABA] was down 0.5% at USD128.21 as of 6.14 a.m. local time.