Cloud giant, Alibaba Group announced its financial results for the quarter ended September 30. For the quarter, the company’s revenue was $22,838 million, an increase of 30% year-over-year. The company’s annual active consumers on China retail marketplaces increased 15 million from the twelve months period ended June 30 and reached 757 million.
Increase of 30% year-over-year in revenue
For the quarter, Alibaba Group’s income from operation was $2,008 million a decrease of 33% year-over-year. However, excluding the impact of share-based compensation expense related to Ant Group share-based awards granted to its employees, income from operations would have increased by 44% year-over-year.
The cloud giant’s adjusted EBITDA increased by 28% year-over-year to $7,000 million. The company also stated that diluted earnings per ADS was $1.54 and non-GAAP diluted earnings per ADS was $2.65, an increase of 37% year-over-year. Daniel Zhang, Chairman and Chief Executive Officer, Alibaba Group, said,
“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. 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.”