AutoNavi Holdings Limited announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. The company's total net revenues in the first quarter of 2013 were $34.3 million, compared to $35.7 million in the first quarter of 2012, and $43.6 million in the fourth quarter of 2012. Net income attributable to AutoNavi shareholders was $5.7 million in the first quarter of 2013, compared to $8.9 million in the first quarter of 2012 and $8.7 million in the fourth quarter of 2012. Diluted net income per American depositary share (ADS) attributable to AutoNavi shareholders for the first quarter of 2013 was $0.12. One ADS represents four ordinary shares. Non-GAAP net income attributable to AutoNavi shareholders, which excludes share-based compensation expenses, was $8.4 million in the first quarter of 2013, compared to $12.2 million in the first quarter of 2012 and $11.0 million in the fourth quarter of 2012. Diluted non-GAAP net income per ADS attributable to AutoNavi shareholders for the first quarter of 2013 was $0.17. Operating income in the first quarter of 2013 was $3.2 million. Non-GAAP operating income, which excludes share-based compensation expenses, was $5.9 million in the first quarter of 2013. Net income per ordinary diluted share was $0.03 against $0.04 a year ago. The company expects its full year 2013 net revenues will be in the range of $168 million to $176 million, representing an increase of approximately 5% to 10 % over fiscal year 2012.

AutoNavi Holdings Limited announced that the company and several entities affiliated with Alibaba Group Holding Limited have agreed to form a strategic alliance to jointly explore and develop location-based e-commerce opportunities. The parties plan to share certain data, including AutoNavi's map data and location-related information of the merchants on Alibaba's e-commerce platforms, including Taobao Marketplace and Tmall.com. AutoNavi and Alibaba will also cooperate in the areas of map engine, location search, navigation and cloud computing services and will cross-promote their respective products and services, with a goal of developing new location-based business models.

Alibaba Group Holding Limited is planning to acquire 25%-30% stake in AutoNavi Holdings Limited (NasdaqGS:AMAP), local media reported. Citing unidentified sources, news portal Sina said that the deal may be announced on May 13, 2013. Pursuant to this transaction, Alibaba Group will become the largest shareholder in Autonavi. Representatives from Alibaba Group and Autonavi declined to comment on the news, Reuters reported.