Chinese eCommerce giant Alibaba reported revenue growth of 60%, the highest growth rate since its IPO.
They also reported very strong fiscal year revenue growth of 56% with annual free cash flow of approximately US$10 billion.
Alibaba Group’s revenue was US$5,605 million in Q1 2017, an increase of 60% year-over-year.
- Core commerce increased 47% year-over-year to US$4,587 million
- Cloud computing increased 103% year-over-year to US$314 million
- Digital media and entertainment increased 234% year-over-year to US$571 million
- Revenue from innovation initiatives and others increased 88% year-over-year to US$133 million
Annual active buyers on Alibaba’s China retail marketplaces reached 454 million, an increase of 11 million from the 12-month period ended in December 2016.
Mobile monthly average users on its China retail marketplaces reached 507 million in March, an increase of 14 million over December 2016.
Compared with JD (Jingdong) annual active customer accounts increased by 40% to 236.5 million in the twelve months ended March 31, 2017, from 169.1 million in the twelve months ended March 31, 2016.
Alibaba’s net income reached 9,852 million yuan (US$1,431 million) in Q1 2017, income from operations was 9,532 million yuan (US$1,385 million) and adjusted EBITDA was 16,597 million yuan (US$2,411 million).
Operating margin was 25%, adjusted EBITDA margin was 43% and adjusted EBITA margin for core commerce was 59%.
As of March 2017, 75% of the consumer brands that ranked in Forbes Top 100 World’s Most Valuable Brands have established digital operations on Tmall.
Italian auto brand, Alfa Romeo, recently forged an exclusive strategic partnership with Tmall to market and sell its cars online in China.
Alibaba’s international consumer platform AliExpress achieved 83 million annual active buyers combined for the twelve months ended March 2017. AliExpress currently operates sixteen local language sites, including sites in Russian, Spanish and French.