Alibaba's revenue up 56% YoY in Q2 2017

23 Aug '17
3 min read

Alibaba Group Holding Limited has announced that its revenue for the quarter ended June 30, 2017 has increased by 56 per cent year-over-year to RMB 50,184 million (approximately $7,403 million) compared to the same period last year. Revenue from core commerce increased 58 per cent year-over-year to RMB 43,027 million (approximately $6,347 million).

The company’s revenue from innovation initiatives and others increased 21 per cent year-over-year to RMB 645 million ($95 million). Its annual active consumers (formerly annual active buyers) on the China retail marketplaces reached 466 million, an increase of 12 million from the 12-month period ended March 31, 2017.

Mobile MAUs on the China retail marketplaces reached 529 million in June, an increase of 22 million over March 2017.

Net income of the company for the second quarter of 2017 was RMB 14,031 million ($2,070 million), income from operations was RMB 17,513 million ($2,583 million) and adjusted EBITDA was RMB 25,124 million ($3,706 million). Operating margin was 35 per cent, adjusted EBITDA margin was 50 per cent and adjusted EBITA margin for core commerce was 63 per cent. Diluted EPS was RMB 5.65 ($0.83) and non-GAAP diluted EPS was RMB 7.95 ($1.17), said the company in a press release.

Net cash provided by operating activities was RMB 25,311 million ($3,733 million) and non-GAAP free cash flow was RMB 22,149 million ($3,267 million).

“Alibaba had a strong start to fiscal 2018, reflecting the strength and diversity of our businesses and the value we bring to customers on our platforms. Our technology is driving significant growth across our business and strengthening our position beyond core commerce,” said Daniel Zhang, chief executive officer of Alibaba Group. “We are excited about the future as we continue to innovate and drive synergies among the businesses throughout the Alibaba ecosystem.”

“We delivered excellent results in the first quarter, with robust revenue growth of 56 per cent. The significant growth in customer management revenue represents the differentiated business value we provide to our customers,” said Maggie Wu, chief financial officer of Alibaba Group. “It is our intention to continue investing in long-term growth opportunities, some of which are already delivering significant value to customers and investors.”

Tmall recorded 49 per cent year-over-year growth for physical goods GMV in the quarter ended June 30, 2017. Fashion and apparel, consumer electronics and fast-moving consumer goods, or FMCG, were among the key categories that experienced robust and reaccelerating GMV growth during the quarter.

Tmall has been established as a leading brand-building and distribution platform that is capturing increasing digital marketing and commerce spending from owners of both domestic and international branded products that are doing business in China. During the quarter, international brands such as Moet Hennessy, Victoria’s Secret, Roland and Abercrombie & Fitch established Tmall flagship stores to engage with and sell their products to consumers on its platforms.

In May 2017, Alibaba completed the privatisation and the acquisition of a controlling stake in Intime Retail Group for HK$12.6 billion ($1.6 billion). Intime is a leading department store and mall operator in China with 49 department stores and shopping malls as of June 30, 2017.

The company’s cross-border and international consumer businesses continue to exhibit robust growth. Revenue from its international commerce retail business reached meaningful scale at RMB 2,638 million ($389 million) in the quarter ended June 30, 2017, representing a 136 per cent year-on-year growth, driven by strong growth in our Southeast Asian platform Lazada and its China outbound platform AliExpress. The growth of Lazada and AliExpress further expands its customer base outside China. (KD)

Fibre2Fashion News Desk – India

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