Alibaba reports 28% revenue increase

Alibaba reports 28% revenue increase

Alibaba has announced that it generated revenue of RMB20,245 million (US$3,265 million) for the quarter ended 30 June, up 28% on last year. Gross Merchandise Volume (GMV) transacted on the company’s China retail marketplaces was RMB673 billion (US$109 billion), an increase of 34% year-over-year. “Excluding the effect of the suspended lottery business, GMV would have increased by 36% year-over-year,” added Alibaba.

“We had a strong quarter and we continued to build the foundations for future growth. We focused our efforts on building healthy GMV growth, delivering the best consumer experience, and improving the quality and sustainability of merchants doing business on our marketplaces,” said Daniel Zhang, Chief Executive Officer of Alibaba Group.

Maggie Wu, Chief Financial Officer of Alibaba Group, added: “We made significant progress monetizing our mobile traffic, with our mobile revenue exceeding 50% of our total China commerce retail revenue for the first time. Again, we have generated strong free cash flow of US$1.5 billion this quarter. We continue to execute our growth strategy and focus on long-term value creation. The fundamental strength of our business gives us the confidence to invest in new initiatives, add new users, improve customer experience and expand our products and services.”

Focusing on its logistics activities, Alibaba said: “Through our logistics affiliate Cainiao, we believe we have created the largest logistics service ecosystem in China through strategic partnerships with logistics players in warehousing, transportation, courier services and pick-up stations.

“We are increasing our emphasis on service quality and customer satisfaction. Consumers now enjoy next-day delivery services in 41 major cities, including Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou, and this will be extended to 50 cities by the end of this year.

“We have also launched same-day delivery of groceries, initially starting with Beijing and Shanghai, which has been very successful, with grocery sales in Beijing increasing 740% year-on-year while 90% of orders came from mobile devices.

“In addition, through our partnership with Suning Commerce Group Limited (“Suning”) as recently announced, consumers in over 150 cities will be able to enjoy two-hour delivery services for consumer electronics and home appliances.”

 

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