Alibaba revenues fail to meet analysts’ expectations
Despite this, the retailer said its annual active consumers of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the year ended June 30, 2021, an increase of 45 million
Alibaba has reported revenues of ¥180.24bn (£20bn) for the three months to June 30, an increase of 34% from the previous year, however falling short of analysts forecasts of ¥184bn (£20.4bn).
It revealed that total revenue also missed expectations at ¥205.74bn (£22.8bn), despite this marking an increase of 34%. In addition, net income attributable to shareholders decreased 5% to ¥45.14bn (£5bn).
Alibaba said the increase was mainly driven by the “robust” revenue growth in its China commerce retail business, which includes the consolidation of Sun Art starting in October 2020, and the revenue growth of its Cainiao logistics services and international commerce retail businesses.
Despite this, the retailer said its annual active consumers of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the year ended June 30, 2021, an increase of 45 million from the previous year.
Daniel Zhang, chairman and CEO of Alibaba Group, said: “Alibaba started the new fiscal year by delivering a healthy quarter. For the June quarter, global annual active consumers across the Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the March quarter, which includes 912 million consumers in China.
“Over more than twenty years of growth, we have developed a company that spans across both consumer and industrial Internet, with multiple engines driving our long-term growth.”
He added: “We believe in the growth of the Chinese economy and long-term value creation of Alibaba, and we will continue to strengthen our technology advantage in improving the consumer experience and helping our enterprise customers to accomplish successful digital transformations.”
