Alibaba Group has released its Q2 results for the three months ending 30th September. Revenue increased 30% to CNY155.1bn (US$22.8bn) YoY.
Growth slowing, but still relatively strong
The number of annual active customers on Alibaba’s China retail marketplaces increased by 15m to reach 757m. Mobile MAU’s reached 881m at the end of September. Ahead of the retailer's 12th annual shopping event held on 11.11, the retailer has recorded growth across all business segments, but at a slower pace than last year.
- Revenue from core commerce increased 29% YoY to CNY130.9bn (US$19.3bn)
- Tmall online physical goods GMV up 21% YoY
- Taobao online physical goods GMV grew at high-teens percent YoY
- Tmall Global GMV up 37% YoY
- Revenue from cloud computing increased 60% YoY to CNY14.9bn (US$2.2bn)
- Revenue from digital media and entertainment increased 8% YoY to CNY8.1bn (US$1.2bn)
- Revenue from customer management up 20% YoY
- Other revenue (includes New Retail and Direct Sales Businesses) up 44% YoY
Other key highlights
- As of September 30, 2020, Alibaba had 222 Freshippo stores. For the twelve months, annual active consumers for Freshippo reached over 26m. Freshippo achieved healthy same-store sales growth during the quarter
- Transactions increasingly conducted online, between 65%-75%
- Overall, it has seen an expansion in the number of older people ordering online
- Invested in US$3.5bn to acquire controlling stake in Sun Art
- Local consumer services (ele.me) average daily number of paying members up 45% YoY
- In July 2020, Ele.me rolled expanded its on-demand delivery services to cover a stronger range of categories, e.g. fresh produce, grocery and flowers
- Live streaming has been redefining consumer engagement:
- Taobao Live generated CNY350bn in GMV for the 12 months ended September 30, 2020
- Lazada Maintained Robust Growth Momentum: order volume up 100% YoY
Counting down to 11.11
Read more about Alibaba's latest news including updates on Singles' Day here.