wordpress blog stats
Connect with us

Hi, what are you looking for?

Alibaba revenue grows 56% year-on-year in Q3FY18


Chinese e-commerce giant Alibaba Group has recorded a 56% YoY growth in revenue in the quarter ended December 31, 2017, reaching $12,761 million. The growth was mainly driven by the revenue growth of our China commerce retail business, international commerce retail business and Alibaba Cloud, as well as the consolidation of Cainiao Network.

In its quarterly results, Alibaba said that annual active consumers on China retail marketplaces reached 515 million, an increase of 27 million from the 12-month period, while mobile monthly active users reached 580 million in this period. The net increase of 27 million in annual active consumers represents the largest net add in the past 12 quarters. The growth was largely driven by online shopping website Taobao.

Ant Financial

Alibaba also announced to take 33% equity stake in Ant Financial, its fintech affiliate During the December 2017 quarter, Alipay Wallet’s daily active users more than doubled on a year-over-year basis.

Notably, Alibaba’s profit share from Ant Financial declined this quarter, which, the company said, was because of Ant Financial’s aggressive user growth plan during the quarter which increased expenses in return for substantial additions in new users for Alipay Wallet.

Core Commerce

Revenue from core commerce increased 57% year-over-year to $11,257 million. Taobao and Tmall online shopping websites are two of the core commerce enterprises for Alibaba. The company’s annual Global Shopping Festival held in November exceeded last year’s records, with GMV settled through Alipay on marketplaces up 39% YoY to $25.9 billion.

Revenue from international commerce retail business reached $727 million in the quarter, representing 93% YoY growth, driven by the strong growth of  Southeast Asian platform Lazada and global retail marketplace AliExpress.

Cloud Computing

Cloud computing revenue grew 104% YoY to $553 million, driven by growth in paying customers and revenue mix toward higher value-add product, Alibaba said. According to the IDC Semi-annual Public Cloud Services Tracker, Alibaba Cloud was the largest platform-as-a-service (PaaS) player in China based on data in the first half of 2017.

In the December 2017 quarter, Alibaba Cloud launched 396 new products and features. It also took on partnerships with health and beauty retailer Watsons China, automobile manufacturer Geely, and the Beijing Capital International Airport.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


The first few days of this year were rife with speculation that Alibaba founder Jack Ma had disappeared. But the fintech tycoon remains elusive,...


US President Donald Trump on Tuesday signed an executive order banning US transactions with eight Chinese apps, including Ant Group’s Alipay. While the order...


The Shanghai Stock Exchange (SSE) has suspended the Ant Group’s $34.5 billion initial public offering (IPO) on Tuesday, after the financial conglomerate was summoned...


The US government is considering placing restrictions on Tencent Holdings and Ant Group due to national security concerns over their digital payment platforms, Bloomberg...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ