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Alibaba with 34% revenue growth

Aug 13, 2021 China
Alibaba with 34% revenue growth
The Chinese-based ecommerce giant has announced results for the quarter ended on the 30th of June 2021. In the period, revenue of Alibaba totalled 205.740 billion Renminbi (31.87 billion US dollars), an increase of 34% year-over-year
“Alibaba started the new fiscal year by delivering a healthy quarter. For the June quarter, global annual active consumers across the Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the March quarter, which includes 912 million consumers in China. Over more than twenty years of growth, we have developed a company that spans across both consumer and industrial Internet, with multiple engines driving our long-term growth”, stated Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. 

“We delivered strong revenue growth of 34% year-over-year. As we said in last quarter's results announcement, we are investing our excess profits and additional capital to support our merchants and invest in strategic areas to better serve customers and penetrate into new addressable markets”, added Maggie Wu, Chief Financial Officer of Alibaba Group.

Quarter Highlights 

In the three months period ended on the 30th of June 2021 revenue of Alibaba totalled 205.740 billion Renminbi (31.87 billion US dollars), an increase of 34% year-over-year.

Annual active consumers of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended on the 30th of June 2021, an increase of 45 million from the twelve months ended on the 31st of March 2021. This includes 912 million consumers in China1 and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.

Net income attributable to ordinary shareholders reached 45.141 billion Renminbi (6.99 billion US dollars). Net income was 42.84 billion Renminbi (6.63 billion US dollars).

Image credits: alizila.com

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