Staff Reporters
4 days ago

Retail engine drives Alibaba to 51% revenue rise

The internet giant took in US$13.932 billion for the quarter (US$56.152 billion for the year), and says it added 102 million active consumers on its China retail marketplaces.

(Shutterstock)

Alibaba Group has reported 51% revenue growth for both the latest quarter and its fiscal year, which ended March 31.

The company said it grew its user base to 654 million annual active consumers while increasing penetration into lower-tier cities. Organic growth excluding the effects of consolidated businesses would have been 39% for the year, the company said.

Headline numbers

  • Quarterly revenue RMB93.498 billion US...

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