Alibaba revenue surges

Nov 13, 2019Updated Nov 5, 20191 min read

Chinese e-commerce giant Alibaba enjoyed a 40 percent rise in sales during its second financial quarter, performing beyond expectations.

Alibaba revenue rose to RMB119.02 billion (US$16.91 billion) in the September quarter, 40 percent above the RMB85.15 billion ($12.1 billion) during the same period last year, and ahead of projected revenues of RMB116.8 billion ($16.6 billion).

The results reflected leaps in both of the firm’s core businesses – a roughly 40-per-cent jump in e-commerce and a 64-per-cent leap in cloud computing.

Alibaba’s net income attributable to ordinary shareholders hit RMB72.54 billion ($10.32 billion).

Alibaba has been focusing on building its business in lower-tier Chinese cities to counter the effects of saturated markets and the US-Sino trade war.

“Average revenue per user in lower-tier cities is not as low as people imagine,” said Alibaba CFO Maggie Wu. “I think we have addressed very well in our Taobao apps different demands and levels of consumers.”

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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