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    Alibaba Reports Strong Year Over Year Revenue Growth in Quarter 2

    By The Staff - Nov 9, 2020
    Alibaba Reports Strong Year Over Year Revenue Growth in Quarter 2

    Alibaba saw revenue grow USD $19.3 billion in the second quarter, which ended on September 30th, an increase of 29% year over year. Their quarterly report showed continued resurgence for the e-commerce giant which had stumbled 19% in the fourth quarter of 2020 due to the pandemic.

    “Alibaba had another strong quarter. We continued to help businesses recover and find new opportunities for growth through digitalization in the post-pandemic landscape. The solid performance of our core commerce and robust growth of Alibaba Cloud are the direct results of our commitment to value creation for customers,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group.

    Key Highlights:

    • Revenue was US$22,838 million, an increase of 30% year-over-year.
    • Annual active consumers on China retail marketplaces reached 757 million
    • Mobile MAUs on China retail marketplaces reached 881 million in September 2020, an increase of 7 million over June 2020.
    • Income from operations was US$2,008 million, a decrease of 33% yearover-year due to a RMB15,753 million increase in share-based compensation expense related to Ant Group share-based awards granted to our employees. Excluding this impact, our income from operations would have increased 44% year-over-year, to US$4,373 million in the quarter ending September 30, 2020.
    • Adjusted EBITDA, a non-GAAP measurement, increased 28% year-over-year to US$7,000 million. Adjusted EBITA, a non-GAAP measurement, increased 28% yearover-year to US$6,070 million).

    “We remain focused on our three long-term growth engines – domestic consumption, cloud computing and data intelligence, and globalization – to effectively capture opportunities from the ongoing changes in consumer demand and acceleration of digitalization of businesses across our digital economy,” said Zhang.

     

     

     

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