Alibaba revenue surges 60% in 4th fiscal quarter
Updated: 2017-05-19 07:12:29
Two men chat beside a logo of Alibaba at its headquarters on the outskirts of Hangzhou, Zhejiang province. [Photo/Agencies]
HANGZHOU - China's e-commerce giant Alibaba said Thursday that its quarterly revenue jumped 60 percent year on year in the fourth fiscal quarter ending March.
The group's revenue was about 38.6 billion yuan ($5.6 billion) in the quarter, beating market expectations, Alibaba said. This was Alibaba's highest quarterly revenue growth since a public initial offering.
The company said that the figure was mainly driven by robust revenue growth across all its segments, "in particular our China commerce retail revenue growth."
Revenue in the fiscal year surged 56 percent to about 158.3 billion yuan year on year, according to Alibaba.
Meanwhile, the annual number of active buyers on its retail platform in China climbed to 454 million, while the monthly number of active users on its mobile platform reached 507 million.
Daniel Zhang, chief executive officer of Alibaba, said the robust quarter demonstrated Alibaba's successful interaction with its 500 million consumers as well as its ability to create value.