Beijing (PingWest)—Alibaba Group today announced its financial results for the quarter ended December 31, 2019.
- Revenue was RMB161,456 million (US$23,192 million), an increase of 38% year-over-year.
- Annual active consumers on our China retail marketplaces reached 711 million, an increase of 18 million from the 12-month period ended September 30, 2019. Over 60% of new annual active consumers were from less developed areas.
- Mobile MAUs on our China retail marketplaces reached 824 million in December 2019, an increase of 39 million over September 2019.
- Income from operations was RMB39,560 million (US$5,682 million), an increase of 48% year-over-year. Adjusted EBITDA, a non-GAAP measurement, increased 37% year-over-year to RMB55,880 million (US$8,027 million).
A pneumonia-causing virus is disrupting China's economy. Finance chief Maggie Wu said most of Alibaba’s businesses that rely on the sale of physical goods would likely see a decline in revenues this quarter.
Meanwhile, CEO Daniel Zhang said DingTalk, the company’s enterprise chat app, had seen “explosive growth” during the crisis as white collar businesses and schools use it for remote working and online lessons.