Alibaba Announces Third Quarter Financial Report

On February 2, Alibaba released its third-quarter financial report (the fourth-quarter ending on December 31, 2020). The financial report showed that Alibaba achieved revenue of 221.08 billion yuan, a year-on-year increase of 37%. Among them, Alibaba Cloud’s revenue grew to RMB 16.115 billion.

According to the data, the annual active consumers in the Chinese retail market reached 779 million for the 12 months ended December 31, 2020, an increase of 22 million from the 12 months ended September 30, 2020; operating profit was RMB 490.02 billion ( 7.510 billion US dollars), an increase of 24%. Adjusted EBITDA (a non-GAAP financial measure) increased by 22% year-on-year to RMB 68.380 (US$10.48 billion); net profit attributable to ordinary shareholders was RMB 79.427 billion (US$12.173 billion), and In the same period last year, it was RMB 77.97 billion (approximately US$11.95 billion).

The financial report pointed out that Alibaba Cloud provides comprehensive cloud technology solutions and services for all walks of life to help enterprises in their digital transformation. In the December quarter, cloud computing revenue increased by 50% year-on-year to RMB 16.115 billion (approximately US$2.47 billion), mainly due to the strong growth in revenue from the Internet, the retail industry, and the public sector customers.

Zhang Yong, Chairman, and CEO of Alibaba Group, he said: “China was the only major economy that achieved GDP growth last year. Thanks to China’s rapid economic recovery, Alibaba has ushered in a very healthy quarter. Consumption, meeting consumer needs, supporting merchants to resume business, and coping with the impact of the epidemic, once again successfully realized the Double Eleven Global Shopping Festival. Our cloud computing business continues to expand its market leadership position and shows strong growth, which reflects China’s nascent cloud The huge potential of the computing market and our investment in technology over the years. Looking to the future, we are confident that we will continue to create value for customers, lead by innovation, and contribute to society.”

It is reported that Alibaba Cloud will continue to help customers carry out digital transformation and achieve business growth. Its proprietary technology has won the recognition of research institutions. For example, Gartner announced the evaluation results of the 2020 Magic Quadrant for Global Databases, and Alibaba Cloud entered the world’s first database-Leaders quadrant for the first time. This is also the first time that a Chinese database has entered in 40 years. Ranks among the world’s top databases.