Alibaba’s revenue rises 39% with increase in online shopping in China
Alibaba recorded a revenue of RMB 24,184 million (USD 3,751 million), in the fourth quarter with an increase of 39 per cent year-over-year. China retail marketplaces revenue was RMB18,340 million (USD 2,844 million), an increase of 41 per cent year-over-year. Mobile revenue was RMB13,084 million (USD 2,029 million), an increase of 149 per cent year-over-year.
“Alibaba Group finished the fiscal year on a very strong note. In March we surpassed RMB3 trillion in annual GMV and our revenue for the year was over RMB100 billion. We achieved strong growth in mobile users, active buyers and transactions. Our focus on long-term strategic priorities – globalisation, rural expansion, building a world-class cloud computing business and creating a comprehensive media and entertainment platform – has laid a strong foundation for future growth,” said Daniel Zhang, Chief Executive Officer of Alibaba Group.
Annual active buyers on the platform’s China retail marketplaces increased to 423 million, an increase of 16 million over the prior quarter, while mobile MAUs in March reached 410 million, an increase of 17 million over December 2015.
“Our excellent results this quarter reflect the unique strength of our core e-commerce business despite challenging economic conditions, as well as the emerging momentum of our balanced portfolio of businesses from mobile media to cloud computing. As a result, we achieved accelerating year-over-year revenue growth of 39 per cent, which was the highest revenue growth rate for the past four quarters. With several consecutive quarters of increases in revenue per active buyer and revenue per mobile MAU, we showcase the resiliency and growing clout of Chinese consumers. This bodes well for our business as our annual active buyers on our China retail marketplaces increased to 423 million,” said Maggie Wu, Chief Financial Officer of Alibaba Group.
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