Alibaba Announced 51% Revenue Growth For The March Quarter and Fiscal Year 2019

May 15, 2019 7:10 pm

Hangzhou (PingWest) — The Chinese e-commerce giant today announced their March quarter and full fiscal year financial result ended March 31st, 2019. 

In 2019's first quarter, Alibaba gained a revenue jump of 51% year-over-year to US$13,932 million. Net income was US$2,988 million, with an increase of 42% year-over-year. However income from operations has seen a drop of 5% year-over-year to US$1,306 million, due to a million-dollar U.S. federal class action lawsuit settlement. 

For the fiscal year performance, Alibaba gained a same revenue increase of 51% as the first quarter, took in a total US$56,152 million. Net income showed a 12% growth year-over-year to US$11,955 million. In terms of the mobile monthly active users (MAU), there was a yearly increase of 104 million to a total number of 721 million on the platform, with an annual active consumers of 654 million, up by 102 million from the 12-months period. 

The company said to expect continued revenue growth to over US$72 billion in the 2020 fiscal year. 

Source: Yahoo Finance