Alibaba Group Holding Limited on 26th May announced its financial results for the quarter and fiscal year ended 31st March, 2022.
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Alibaba reached a milestone in the quarter of serving over 1 billion annual active consumers in China – reaching its target for 2024 ahead of schedule – and achieved a record CNY 8,317 billion (US$1,312 billion) in global GMV for the fiscal year. Despite the market volatility, Alibaba delivered year-over-year revenue growth of 9 percent for the quarter and 19 percent year-over-year growth for the fiscal year. Looking ahead to fiscal year 2023, Alibaba will focus on generating sustainable, high-quality revenue growth and optimizing operating cost structure to enhance overall return.
In the quarter ended on 31sth March, 2022, revenue increased by 9 percent year over year to RMB204,052 million (USD 32,188 million). For the twelve months ending 31st March, 2022, the Alibaba Group’s global active consumers totaled over 1.31 billion. This comprised over 1 billion Chinese users, as well as 305 million people from other countries. Net loss attributable to ordinary shareholders was RMB16,241 million (USD 2,562 million), primarily due to decreases in the market prices of our equity investments in publicly-traded companies. Non-GAAP net income was RMB19,799 million (USD 3,123 million), a decrease of 24% year-over-year.
In terms of the fiscal year ended on 31st March, 2022, revenue increased 19 percent year on year to RMB853,062 million (USD 134,567 million).Over 124 million annual active users spent over RMB10,000 (USD 14840) on Taobao and Tmall in fiscal year 2022. Approximately 98% of annual active consumers who spent over RMB10,000 on Taobao and Tmall in fiscal year 2021 continued to be active in fiscal year 2022. Net income attributable to ordinary shareholders was RMB61,959 million (USD 9,774 million), a decrease of 59% year-over-year, owing mainly to net losses from falls in the market values of our publicly traded equity investments, which we omitted from our non-GAAP figures last year. Non-GAAP net income decreased by 21 percent year over year to RMB136,388 million (USD 21,515 million).
“Despite macro challenges that impacted supply chains and consumer sentiment, we continued to focus on customer value proposition and building the capabilities to deliver value. We saw tangible progress across our businesses, especially in operational improvements in key strategic areas,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “Looking ahead, we will continue to execute on our multi-engine growth strategy by strengthening our digital infrastructure and focusing on quality growth to create long-term value for our customers, shareholders and other stakeholders across our ecosystem.”
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“Looking ahead to fiscal year 2023, we will firmly focus on generating sustainable, high-quality revenue growth and optimizing our operating cost structure to enhance overall return amidst these uncertain times,” said Toby Xu, Chief Financial Officer of Alibaba Group.