Alibaba Group Reports June 2019 Quarter Earnings

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Alibaba Group Reports June 2019 Quarter Earnings

Alibaba Group today announced financial results for the quarter ended June 30, 2019. Highlights of the group’s fiscal first-quarter earnings are in the infographic and summary below. To read Alibaba Group’s press release covering the results in greater detail, click here.



  • Strong quarter across the board; beat estimates on revenue and earnings
  • Industry-leading revenue growth of 42% YoY
  • Core business continued growth driven by new users and robust consumption activity
  • Extending leadership position in less developed areas


  • Total revenue of RMB114.9 billion (US$16.7 billion), up 42% YoY
  • Net income attributable to ordinary shareholders was RMB21.3 billion (US$3.1 billion), up significantly year-over-year due to significantly higher share-based compensation expense in the year-ago period
    • This expense was higher because during that year-ago quarter Ant Financial completed an equity financing at a higher valuation, which required us to recognize the increase in value of Ant Financial awards to Alibaba Group employees
    • Excluding this impact, income from operations would have been up 27% YoY
  • Adjusted EBITDA increased 34% YoY to RMB39.2 billion (US$5.7 billion)
  • Marketplace-based core commerce adjusted EBITA up 27% YoY to RMB46.8 billion (US$6.8 billion)
  • Non-GAAP free cash flow was RMB26.4 million (US$3.8 billion)


Expanding Core Commerce Leadership

  • Core Commerce revenue of RMB99.5 billion (US$14.5 billion), up 44% YoY
  • Tmall continued to gain wallet share and expand B2C market leadership, with paid physical goods GMV up 34% YoY
  • New Retail continued to expand and achieved robust same-store sales growth
  • As of June 30, 2019, there were 150 self-operated Freshippo stores in 17 cities across China

Robust User Growth and Engagement

  • Annual active consumers on our China marketplaces reached 674 million, up 20 million over the 12-month period ended March 31, 2019; over 70% of new users came from less developed areas
  • Mobile MAUs reached 755 million, an increase of 34 million over March 2019
  • The strong user growth reflects successful user acquisition programs which deepened our penetration into less developed areas

Local Services Enjoys Robust GMV Growth and Improving Operating Efficiencies

  • Revenue from local consumer services was RMB6.2 billion (US$900 million), an increase of 137% YoY
  • We achieved strong growth in daily on-demand GMV, driven by robust order growth and increasing average order size
  • Deepened integration with the Alibaba Digital Economy; consumers can discover offline promotional deals from nearest merchants while using the Taobao app

Cainiao Logistics Delivers Strong Cross-Border Growth and Last-Mile Solutions

  • Cainiao logistics services revenue was RMB5.0 billion (US$729 million), up 50% YoY, driven by the increase in the volume of orders fulfilled
  • Cainiao’s import fulfillment solutions served over 97% of Tmall Global packages in June 2019


  • Cloud revenue grew 66% YoY to RMB7.8 billion (US$1.1 billion) driven by an increase in average revenue per customer
  • During the June 2019 quarter, Alibaba Cloud launched over 300 new products and features


  • Digital Media and Entertainment revenue grew 6% YoY to RMB6.3 billion (US$920 million), primarily due to our consolidation of Alibaba Pictures
  • Youku’s average daily subscribers grew 40% YoY due to synergies between the commerce and entertainment businesses, which continued to deliver superior user experiences


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