Friday, 16 August 2019 12:53

Alibaba increases revenue, expands user base to 674 million Featured

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Chinese tech behemoth Alibaba Group pulled in revenue of RMB114,924 million (US$16,741 million) - an increase of 42% year-over-year – for the June quarter and expanded its user base to 674 million annual active consumers.

And Daniel Zhang, Chief Executive Officer of Alibaba Group, says the company will continue to expand its customer base, “increase operating efficiency and deliver robust growth”.

“Alibaba had a great quarter, expanding our user base to 674 million annual active consumers, demonstrating our superior user experience.

“With strong cash flow from our core commerce business, we will continue to invest in technology and bring digital transformation to millions of businesses globally.”

In addition to its increase in revenues, for the quarter ended June 30, 2019, Alibaba Group reported:

  • Annual active consumers on our China retail marketplaces reached 674 million, an increase of 20 million from the 12-month period ended March 31, 2019.
  • Mobile MAUs on our China retail marketplaces reached 755 million in June 2019, an increase of 34 million over March 2019.
  • Income from operations was RMB24,375 million (US$3,551 million), an increase of 204% yearover-year. The increase would have been 27% excluding share-based compensation expense resulting from Ant Financial’s awards to our employees. This expense was significantly higher in the quarter ended June 30, 2018 because during the quarter Ant Financial completed an equity financing at a higher valuation, which required us to recognize the increase in value of these awards. Adjusted EBITDA increased 34% year-over-year to RMB39,238 million (US$5,716 million).
  • Adjusted EBITA for core commerce was RMB41,025 million (US$5,976 million), an increase of 25% year-over-year. Our marketplace-based core commerce adjusted EBITA, a non-GAAP measurement, increased 27% year-over-year to RMB46,800 million (US$6,817 million).
  • Net income attributable to ordinary shareholders was RMB21,252 million (US$3,096 million), and net income was RMB19,122 million (US$2,785 million). Non-GAAP net income was RMB30,949 million (US$4,508 million), an increase of 54% year-over-year.
  • Diluted earnings per ADS was RMB8.06 (US$1.17) and non-GAAP diluted earnings per ADS was RMB12.55 (US$1.83), an increase of 56% year-over-year. Net cash provided by operating activities was RMB34,612 million (US$5,042 million) and nonGAAP free cash flow was RMB26,361 million (US$3,840 million).

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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