Alibaba reveal Q116 results and stellar mobile growth
Alibaba has released its results for the first quarter of 2016 and they’re very good. But the performance and growth of their mobile sales is the big story.
– Alibaba’s Q1 revenue: $3.75 billion, up 39% year on year.
– 410 million active mobile users, up 17 million since the end of 2015
– Total sales volume on Alibaba’s China retail marketplaces: $115 billion, up 24% year on year
– And 73% of that was on mobile. was conducted on mobile (roughly $84 billion).
– Mobile revenue of $2.03 billion up 149% YOY.
CEO of Alibaba Daniel Zhang said of the results: “Alibaba Group finished the fiscal year on a very strong note. In March, we surpassed RMB 3 trillion [$461.5 billion] in annual GMV, and our revenue for the year was over RMB 100 billion [$15.4 billion]. We achieved strong growth in mobile users, active buyers and transactions. Our focus on long-term strategic priorities — globalization, rural expansion, building a world-class cloud computing business and creating a comprehensive media and entertainment platform — has laid a strong foundation for future growth.”