Alibaba Group Reports June 2020 Quarter Earnings

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Alibaba Group Reports June 2020 Quarter Earnings

Alibaba Group today announced financial results for the quarter ended June 30, 2020. 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.

Alibaba Group June 2020 Earnings


  • Revenue growth of 34% YoY
  • Strong profit growth with adjusted EBITDA up 30% YoY
  • Non-GAAP free cash flow increased by 39% YoY
  • Domestic core commerce business has fully recovered to pre-COVID-19 levels across the board

June Quarter Financial Review

  • Revenue was RMB153.8 billion (US$21.8 billion), an increase of 34% YoY
  • Net income attributable to ordinary shareholders was RMB47.6 billion (US$6.7 billion), up 124% YoY, mainly due to a net gain arising from the increase in the market prices of our equity investments in publicly-traded companies
  • Adjusted EBITDA increased 30% YoY to RMB51.0 billion (US$7.2 billion)
  • Non-GAAP free cash flow increased by 39% to RMB36.6 billion (US$5.2 billion), mainly due to robust profit growth

Resilience in Core Commerce

Strong Recovery to Pre-Covid-19 Levels across the Board

  • Core Commerce revenue of RMB133.3 billion (US$18.9 billion), up 34% YoY, with continued rapid growth and increased penetration in less developed areas
  • Revenue from the China commerce retail business was RMB101.3 billion (US$14.3 billion), up 34% YoY, marking a strong recovery compared to the March 2020 quarter
  • Marketplace-based core commerce generated solid profit growth with adjusted EBITA RMB55.5 billion (US$7.9 billion), up 19% YoY

Robust User Growth and Engagement on China Retail Marketplaces

  • Annual active consumers reached 742 million, an increase of 16 million from the 12-month period ended March 31, 2020, with the continued addition of new users and consumers from less developed areas reflecting ongoing success in broadening product offerings to meet diverse demands
  • Taobao Deals, which enables merchants and manufacturers to sell directly to value conscious consumers, grew to approximately 40 million MAUs in June 2020 since a new version was launched in March 2020
  • Livestreaming sessions hosted by merchants accounted for approximately 60% of Taobao Live GMV (excluding unpaid orders)
  • Mobile MAUs reached 874 million in June 2020, an increase of 28 million over March 2020

Local Consumer Services – Increased Investment Driving Further Market Penetration

  • Revenue from local consumer services was RMB7.1 billion (US$1.0 billion), up 15% YoY, primarily due to an increase in average order value
  •’s merchant acquisition continued to accelerate, with the number of registered merchants up 30% YoY
  • Approximately 45% of new customers ordering food delivery came from the Alipay app

Cainiao Network Continues to Fulfill Partners’ Logistics Needs

  • Revenue from Cainiao Network was RMB7.7 billion (US$1.1 billion), up 54% YoY
  • Cainiao Post (neighborhood and campus stations and residential self-pick-up stations) average daily package volume was up over 100% YoY
  • In urban areas, Cainiao Post continues to see robust adoption by third party logistics players to optimize their last-mile delivery

Robust Expansion in Global Markets

  • Lazada achieved over 100% quarterly order growth, reflecting strong consumer demand in the general merchandise, FMCG and electronics categories

Extended Growth Momentum in Cloud

  • Revenue from the cloud computing business was RMB12.3 billion (US$1.7 billion), up 59% YoY due to increased revenue contributions from the public and hybrid cloud businesses
  • According to IDC (July 2020), Alibaba Cloud was the largest public cloud service provider in China, as measured by market share for IaaS (Infrastructure as a Service) as well as PaaS (Platform as a Service) for the quarter ended March 31, 2020

Digital Media and Entertainment

  • Youku’s daily average subscriber base increased by over 60% YoY, primarily driven by Youku’s more effective targeting of new subscribers and increased contribution from the 88VIP membership program on China retail marketplaces
  • Revenue from digital media and entertainment was RMB7.0 billion (US$1.0 billion)

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