wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

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

Alibaba

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.

Advertisement. Scroll to continue reading.

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.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.

News

Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.

News

Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.

News

The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.

News

For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

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

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ