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Home > Cloud Computing > Alibaba Group reports September quarter 2020 results

Alibaba Group reports September quarter 2020 results

Alibaba Group Holding Limited announced the company's financial results for the quarter ended September 30, 2020.

Erdem Yasar by Erdem Yasar
November 10, 2020
in Cloud Computing
1 min read
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Alibaba Group reports September quarter 2020 results
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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

Daniel Zhang, Chairman and Chief Executive Officer, Alibaba Group

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.”

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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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