Alibaba Group Holding Limited (NYSE:BABA) reported its financial results for the quarter ended March 31, 2016 and the fiscal year 2016. The revenue rose 39 percent year-over-year for the quarter, which beats the estimates of 23.22 billion yuan by analysts.
According to the report, revenue rose to RMB 24,184 million, roughly US$3.8 billion, a 39% increase year-on-year. Chinese retail marketplaces revenue increased 41% to RMB18,340 million, roughly US$2.8 billion, and mobile revenue reached RMB13,084 million, US$2.0 billion, an increase of 149% year-over-year. Alibaba also achieved a growth in the number of users. Annual active buyers increased to 423 million, representing a 21% increase year-over-year; mobile MAUs reached 410 million in March, representing a 42% increase year-over-year.
Alibaba also had excellent performance in GMV from China retail marketplaces. With an increase of RMB142 billion (US$22 billion), or 24% year-over-year, total GMV reached RMB742 billion (US$115 billion), 73% of which was from mobile GMV.
Revenue in clouding computing and Internet infrastructure business increased 175% year-over-year, reaching RMB1,066 million (US$165 million), and had more than 500,000 paying customers.
“We see a continued upward trend in monetizing our user base with annual China retail revenue per annual active buyer reaching RMB189 (US$29) and annual China retail mobile revenue per mobile MAU reaching RMB123 (US$19)”, according to the report.
The strong performance of Alibaba indicates that Chinese consumer is not weakening yet, and continues to be strong. Although facing many challenges such as economy slowdown, maturation of Internet businesses after years of rapid growth, Alibaba continued its excellent performance and tried to expand e-commerce to areas outside China.