You are looking at the HTML representation of the XML format.
HTML is good for debugging, but is unsuitable for application use.
Specify the format parameter to change the output format.
To see the non HTML representation of the XML format, set format=xml.
See the complete documentation, or API help for more information. 
<?xml version="1.0"?>
<api>
  <query-continue>
    <alllinks galcontinue="Basic_Concepts" />
  </query-continue>
  <query>
    <pages>
      <page ns="0" title="Backup" missing="" />
      <page ns="0" title="Bank Statement" missing="" />
      <page pageid="2741" ns="0" title="BOM" />
      <page pageid="2715" ns="0" title="Balance Sheet" />
      <page pageid="2719" ns="0" title="Bank to Bank Transfer Transaction tips" />
      <page pageid="2720" ns="0" title="Bank to Bank Transfer Transaction tips (Cross Organization)" />
      <page pageid="2716" ns="0" title="Banking" />
      <page pageid="2717" ns="0" title="Banking Setup" />
      <page pageid="2721" ns="0" title="Bargaining power of customers" />
      <page pageid="2722" ns="0" title="Base" />
    </pages>
  </query>
</api>