Alibaba recorded $22.8 billion in revenues in Q3, up 30% year over year, but below estimated $23 billion, according to the company’s press release. Earnings per share were $2.65, up 37% year over year basis, and above estimated $2.06. Higher consumer spending, especially in China during the post-COVID19 environment and acceleration in digitalization, contributed to earnings growth.
- Alibaba’s cloud computing revenues grew 60% year over year basis across all industries and businesses in China.
- The company’s Core Commerce Revenue (in RMB) rose to 130.9 billion, up from 101.2 billion year over year basis.
- The company’s annual active consumers in China’s retail marketplaces rose 15 million to reach 757 million for the twelve months ended June 30, 2020
- Monthly Active Users (MAUs) in China’s retail marketplaces rose 7 million from June 2020 to reach 881 million in September 2020
- Alibaba recorded net cash from operating activities of $8 million, while non-GAAP free cash flows were $6 million for the quarter.
Alibaba stock is currently declining. BABA: NYSE is down on premarket 2.57%