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Alibaba Group announces March quarter and FY2020 financial results

Alibaba

Alibaba Group announced financial results for the quarter and fiscal year ended 31st March, 2020 with expected fiscal 2021 revenue of over US$91 billion.

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In the quarter ended 31st March, 2020, revenue was US$16,144 million, an increase of 22% year-over-year. Annual active consumers on China retail marketplaces reached 726 million, an increase of 15 million from the 12-month period ended 31st December, 2019.

In the fiscal year ended 31st March, 2020, revenue was US$71,985 million, an increase of 35% year-over-year. Annual active consumers for the Alibaba Digital Economy reached 960 million globally, including 780 million consumers in China and 180 million consumers outside China. Annual active consumers on our China retail marketplaces reached 726 million, an increase of 72 million from the 12-month period ended 31st March, 2019.

Income from operations was US$12,912 million, an increase of 60% year-over-year. Adjusted EBITDA, a non-GAAP measurement, increased 29% year-over-year to US$22,266 million. Adjusted EBITA, a non-GAAP measurement, increased 28% year-over-year to US$19,367 million.

Net income attributable to ordinary shareholders was US$21,080 million, and net income was US$19,821 million. Non-GAAP net income was US$18,710 million, an increase of 42% year-over-year.

Diluted earnings per ADS was US$7.90 and non-GAAP diluted earnings per ADS was US$7.48, an increase of 38% year-over-year. Diluted earnings per share was US$0.99 and non-GAAP diluted earnings per share was US$0.93, an increase of 38% year-over-year.

Net cash provided by operating activities was US$25,507 million and non-GAAP free cash flow was US$18,489 million. Reconciliations of GAAP measures to non-GAAP measures presented above are included at the end of this results announcement.

“Alibaba achieved the historic milestone of US$1 trillion in GMV across our digital economy this fiscal year. Our overall business continued to experience strong growth, with a total annual active consumer base of 960 million globally, despite concluding the fiscal year with a quarter impacted by the economic effects of the COVID-19 pandemic”, said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group.

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“The pandemic has fundamentally altered consumer behavior and enterprise operations, making digital adoption and transformation a necessity. We are well positioned and prepared to help large and small businesses across a wide spectrum of industries achieve the digital transformation they need to survive this difficult period and eventually prevail in the new normal. By focusing on the long term and investing in value creation for our consumers and business customers, we believe we will emerge from this crisis stronger and be ready to capture more growth in the future”, he concluded.

 

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