Alibaba Reports 38% YoY Growth in December Quarter Revenues, Cloud Computing Revenues up 62%
Chinese tech giant Alibaba posted robust revenue growth for the final quarter of 2019.
Alibaba’s revenues for the 2019 December quarter were 161.5 billion yuan (approx. USD$23.2 billion), for a YoY rise of 38% compared to the same period in 2018.
Core commerce revenue saw a 38% revenue increase to 141.5 billion yuan (approx. USD$20.3 billion), including a 23% rise in customer management revenue and a 16% rise in commission revenue.
Other revenue, which includes new retail and direct sales businesses, saw a YoY rise of 128%.
Alibaba’s digital media and entertainment revenue rose 14% YoY in the December quarter to reach 7.4 billion yuan, while cloud computing revenue rose 62% to reach 10.7 billion.