Alibaba reports 59% revenue growth
Alibaba has reported a revenue of $4.838bn for the quarter ended 30 June – an increase of 59% on last year. In a statement issued today (11 July), Daniel Zhang, Chief Executive Officer of Alibaba Group, said: “Alibaba Group had an outstanding quarter. Our results show the scale and leverage of our ecosystem, as we strengthen our competitive positions in core commerce, cloud computing and digital media and entertainment.
“We are poised for strong profitable growth into the future.”
Maggie Wu, Chief Financial Officer of Alibaba Group, added: “We delivered excellent results this quarter. The 59% revenue growth for the company overall and the 49% revenue growth of our China retail marketplaces represent the highest growth rates we’ve achieved since our IPO.
“We passed an important milestone this quarter in achieving higher monetization of mobile users than non-mobile users for the first time, reflecting the success of our strategy to stay ahead of the curve by embracing mobile.”
Click here to see the full statement issued by Alibaba.
