Alibaba Group has recently announced its financial results for the quarter ended 30th September 2021.
“This quarter, Alibaba continued to firmly invest into our three strategic pillars of domestic consumption, globalization, and cloud computing to establish solid foundations for our long-term goal of sustainable growth in the future,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “Our global annual active consumers across the Alibaba Ecosystem reached approximately 1.24 billion, with a quarterly net increase of 62 million consumers, and we are on track to achieve our longer-term target of serving two billion consumers globally.”
In the quarter ended September 30, 2021:
• Revenue was RMB200,690 million (US$31,147million), an increase of 29% year-over-year. Cloud Computing and International Commerce businesses showing strong momentum.
• Annual active consumers of the Alibaba Ecosystem across the world reached approximately 1.24 billion for the twelve months ended September 30, 2021, an increase of approximately 62 million from the twelve months ended June 30, 2021. This includes 953 million consumers in China and 285 million consumers overseas, representing a quarterly net increase of 41 million and 20 million, respectively.
• Adjusted EBITA, a non-GAAP measurement, decreased 32% year-over-year to RMB28,033 million (US$4,351 million). The year-over-year decrease was primarily due to company increased investments in key strategic areas that have exhibited robust growth in operations, as well as their support to merchants. These investments in key strategic areas within the company’s commerce segment, such as Taobao Deals, Local Consumer Services, Community Marketplaces and Lazada, increased by RMB12,575 million year-over-year. Excluding the impact of these investments, profits of their commerce segment would have remained stable year-over-year.
• Non-GAAP net income was RMB28,524 million (US$4,427 million), a decrease of 39% year-over-year, primarily due to company increased investments in key strategic areas.
• Fiscal year 2022 revenue guidance was revised and we expect our fiscal year 2022 revenue to grow 20% to 23% year-over-year based on company’s current view of macroeconomic conditions and the competitive landscape.
Alibaba Group’s management will hold a conference call to discuss the results at 7:30 a.m. U.S. Eastern Time (8:30 p.m. Hong Kong Time) on November 18, 2021. A live webcast of the earnings conference call can be accessed at https://www.alibabagroup.com/en/ir/earnings.
Credited to Alibaba Group