Alibaba Group announced the Q3 fiscal year results

On the evening of February 1 (Beijing time), Alibaba Group announced the third quarter 2018 fiscal year results (October 1, 2017-December 31, 2017).

In this quarter, Alibaba revenue reached 830.28 billion yuan (12.761 billion dollars), an increase of 56% over the same period of previous year.

Revenue from core e-commerce business amounted to 73.244 billion yuan (11.275 billion dollars), an increase of 57% over the same period of previous year.

The highly relevant personalized recommendations and interactive content with the users of Mobile TAOBAO (one website of Alibaba group) is the reason of the strong annual growth of active consumers. The annual active consumer of China retail platform reached 515 million.

Tmail (one website of Alibaba group) will expand its leading position in the B2C market. The GMV (Grosse Merchandise Volume) increased of 43% compared with the same period of the last year. It reflects the strong growth in all major categories, including clothing, electronics and FMCG (Fast-Moving Consumer Goods).

In the meantime, there has been a strong growth in many areas like international retail businesses, cloud computing, digital media and entertainment businesses.

Based on the predictability of Fiscal Year 2018 results growth, Alibaba raise its fiscal guidance from 49% -53% to 55% -56%. It shows the breakthrough in new retailing strategy.

Zhang Yong, CEO of Alibaba Group, said: “Alibaba has reaped a strong quarter thanks to the strong purchasing power of Chinese consumers and our diversified and innovative services for traders and consumers. We are very pleased to be able to provide this continued breakthrough in the new retailing. And it is also fully demonstrated at the double 11 Shopping Festival, which hit a new high record last year. We have expanded our proportion in the new retailing space by leveraging mobile technology to deliver new retailing concept. This will bring consumers a converged online to offline consumer experience. ”

 

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