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Alibaba’s revenue rises 32%; defies China slowdown

The Chinese ecommerce giant, Alibaba, has reported a strong rise in the sales as its revenue was up by 32 per cent, at 22.2 billion yuan. The mobile revenue grew particularly strongly this quarter for the ecommerce platform.

The value of transactions transacted on the website was RMB 713 billion (US$112 billion), an increase of 28 per cent year-over-year.

“This was a great quarter for Alibaba Group, with strong growth across the board and particular
outperformance in mobile. We continued our efforts to drive healthy GMV growth, deliver an unparalleled consumer experience and help quality merchants do business on our platform,” said Daniel Zhang, Chief Executive Officer of Alibaba Group.

Mobile accounted for 62 per cent of total transactions. The mobile revenue for the quarter was RMB 10,520 million (USD 1,655 million), representing a year-on-year increase of 183 per cent.

“We are winning in mobile and remain focussed on our top strategic priorities, including internationalisation, expanding our ecosystem from cities to villages, and building a world-class cloud computing business,” Mr Zhang added.

By the end of the September quarter, the number of annual active buyers grew to 386 million, and mobile MAUs grew to 346 million.

“We had very strong results this quarter. GMV grew to USD 112 billion, a year-on-year increase of USD 25 billion in this quarter. We also made significant progress in monetisation and our revenue growth accelerated. Meanwhile, we generated strong free cash flow of US$2.1 billion this quarter. The fundamental strength of our business gives us the confidence to invest in our strategic priorities,” said Maggie Wu, Chief Financial Officer of Alibaba Group.

Shubhi Tandon

Shubhi Tandon is the Assistant Editor at Digital Market Asia. Fascinated by the evolving digital media industry, she has focussed on tracking developments in the Asia Pacific market since 2014.
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