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    Fernando Bucheli, Ambassador of the Republic of Ecuador, met Chief Secretary.GoK

    FCA bans former Credit Suisse vice president following US criminal conviction

    “By uniting our talent and expertise, we can drive progress toward a more climate-resilient and healthier future.” -Dr M.C. Sudhakar,  Minister for Higher Education, GoK.

    World Health Assembly adopts historic Pandemic Agreement to make the world more equitable and safer from future pandemics

    Philips Future Health Index 2025: AI poised to transform global healthcare, urging leaders to act now

    WHO warns of slowing global health gains in new statistics report

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    India to the International Grid: UMA Bootcamp 2025 Opens Applications for Global Track Training

    Governor Thaawarchand Gehlot Inaugurates ‘Centre for Future Skills’ at Karnataka State Open University

    Governor Presents “Atithya Rathna” and “Udyama Rathna” Awards at Karnataka State Hotels Association’s 70th Anniversary Celebration

    Students aspiring to pursue education in the academic year 2025–26 are encouraged to enroll in BBMP schools/colleges and make the best use of the facilities provided by BBMP: Suralkar Vikas Kishor

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    GSK TO ACQUIRE EFIMOSFERMIN.

    Safer walking and cycling crucial for road safety and better health

    Health inequities are shortening lives by decades

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    Inaugural program of “Vidhan Soudha Guided Walking Tour” on May 25.

    LTIMindtree Signs MoU with IIM Mumbai to Launch Postgraduate Program for Executives in AI-led Experience Design

    “By uniting our talent and expertise, we can drive progress toward a more climate-resilient and healthier future.” -Dr M.C. Sudhakar,  Minister for Higher Education, GoK.

    8th Edition of TECHgium® Showcases Engineering Excellence and Bold Innovations

    Union Minister Shri Ashwini Vaishnaw Unveils India’s First 3nm Chip Design Centres in Noida and Bengaluru

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    Tata Motors advances Egypt’s Mobility Landscape; Launches Wide Range of Commercial Vehicles in Partnership with MTI

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    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

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Alibaba Group Announces September Quarter 2020 Results

by FWM
November 6, 2020
in Business
0

Hangzhou, China, November 5, 2020 – Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, “Alibaba” or “Alibaba Group”) today announced its financial results for the quarter ended September 30, 2020. “Alibaba had another strong quarter. We continued to help businesses recover and find new opportunities for growth through digitalization in the post-pandemic landscape. The solid performance of our core commerce and robust growth of Alibaba Cloud are the direct results of our commitment to value creation for customers,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “We remain focused on our three long-term growth engines – domestic consumption, cloud computing and data intelligence, and globalization – to effectively capture opportunities from the ongoing changes in consumer demand and acceleration of digitalization of businesses across our digital economy.” “We delivered another solid quarter, with revenue growth of 30% year-over-year and adjusted EBITDA up 28% year-over-year,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “Our domestic core commerce business continued to grow steadily during the post-COVID-19 environment in China through higher purchase frequency and consumer spending, while cloud computing revenue grew 60% year-over-year, driven by the acceleration in digitalization across all industries and businesses of all sizes in China. We are happy to see that our strategic investments are starting to see improving operational efficiencies and the effect of scale.” BUSINESS HIGHLIGHTS In the quarter ended September 30, 2020: Revenue was RMB155,059 million (US$22,838 million), an increase of 30% year-over-year. Annual active consumers on our China retail marketplaces reached 757 million, an increase of 15 million from the twelve months period ended June 30, 2020. Mobile MAUs on our China retail marketplaces reached 881 million in September 2020, an increase of 7 million over June 2020. Income from operations was RMB13,634 million (US$2,008 million), a decrease of 33% year-over-year due to a RMB15,753 million increase in share-based compensation expense related to Ant Group share-based awards granted to our employees. Excluding this impact, our income from operations would have increased 44% year-over-year, from RMB20,667 million in the quarter ended September 30, 2019 to RMB29,690 million (US$4,373 million) in the quarter ended September 30, 2020. Adjusted EBITDA, a non-GAAP measurement, increased 28% year-over-year to RMB47,525 million (US$7,000 million). Adjusted EBITA, a non-GAAP measurement, increased 28% year-over-year to RMB41,216 million (US$6,070 million).

2 Net income attributable to ordinary shareholders was RMB28,769 million (US$4,237 million),and net income was RMB26,524 million (US$3,907 million), which represent decreases of 60% and 63%, respectively, over the same period last year, when we booked a significant one-time gain upon the receipt of the 33% equity interest in Ant Group. In addition, the increase in share-based compensation expense described in “Income from operations” above also negatively affected the year-on-year comparison. Excluding this one-time gain, share-based compensation expense and certain other items, non-GAAP net income was RMB47,088 million (US$6,935 million), an increase of 44% year-over-year.Diluted earnings per ADS was RMB10.48 (US$1.54) and non-GAAP diluted earnings per ADSwas RMB17.97 (US$2.65), an increase of 37% year-over-year. Diluted earnings per share was RMB1.31 (US$0.19 or HK$1.49) and non-GAAP diluted earnings per share was RMB2.25 (US$0.33 or HK$2.56), an increase of 37% year-over-year. Net cash provided by operating activities was RMB54,296 million (US$7,997 million) and non-GAAP free cash flow was RMB40,540 million (US$5,971 million). Reconciliations of GAAP measures to non-GAAP measures presented above are included at the end of this results announcement

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