Alibaba’s revenues up 61% in first quarter


Alibaba’s revenue for the quarter ended June 30, 2018 increased 61% year-over-year to RMB*80,920m. A decrease of 54% year-over-year in operating income was attributed to a compensation expense. Excluding this, the group said operating income would have increased by 9%.

Revenue from core commerce increased 61% year-over-year to RMB69,188m. Revenue from its China commerce retail business increased by 47% to RMB53,968m.

The group started to consolidate Cainiao into its operations in October 2017. This quarter’s results showed that its revenues totalled €503m. This represents “revenue from the domestic and international one stop-shop logistics services and supply chain management solutions provided by Cainiao Network, after elimination of inter-company transactions.” Overall, this accounts for 4% of Alibaba’s group revenues.

The group made substantial gains in other business areas, most notably cloud computing. Revenues here increased by 93% year-over-year and now total RMB4,698m (this makes it approximately thirteen times smaller than Amazon Web Services).

Source: Alibaba

*RMB = $0.16 /RMB = €0.13