Alibaba releases financial results for Q3

Alibaba

Alibaba has released financial results for Q3 FY18/19 showing another strong quarter for turnover growth. Its total revenue increased by 41% year-over-year to CNY*117,278m in Q3 2018. Income from operations increased by 3% to CNY26,798m.

Core Commerce revenues increased 40% year-over-year to CNY102,843m. The growth of Core Commerce can be attributed to a record-breaking Singles Day (November 11) which generated CNY213.5bn in GMV, up 27% on 2017. Adjusted EBITDA for Core Commerce increased 20% to CNY46,079m.

Revenue from Cainiao Logistics Services (revenue from the domestic and international one-stop-shop logistics services and supply chain management solutions, not counting inter-company transaction) was CNY4,461m. Alibaba started to consolidate Cainiao Network in mid-October 2017, meaning year-on-year comparisons are not available.

Revenue from the China Commerce Wholesale business was CNY2,694m, an increase of 40% compared to CNY1,926m in the same quarter of 2017. The increase was mainly due to an increase in the average revenue from paying members on 1688.com, its domestic wholesale marketplace.

Revenue from the International Commerce Retail business was CNY5,834m, an increase of 23% year-on-year. This growth was attributed to the consolidation of Trendyol, Turkey’s leading e-commerce platform.

An increase in the average revenue from paying members and the number of paying members on Alibaba.com has led to a revenue of CNY2,175m, an increase 31% year-on-year for the International commerce wholesale business.

 “Alibaba had another strong quarter. Our resilient operating and financial performance is a direct reflection of our persistent focus on better serving our growing base of nearly 700m consumers across retail, digital entertainment and local consumer services,” said Daniel Zhang, Chief Executive Officer of Alibaba Group. “Our growth is also driven by the power of Alibaba’s cloud and data technology that helps expedite the digital transformation of millions of enterprises.”

Source: Alibaba Group

*$=CNY6.70 /€=CNY7.70