Alibaba reports strong revenue in Q4 2019

Results for next quarter may decrease due to slowing economy.

Ismawati Asmat18 Feb, 2020

Alibaba reports strong revenue in Q4 2019

Alibaba reported a 38% revenue increase from the prior year, reaching US$23.2 billion for 2020.

Due to restaurant closures, food delivery orders are down year-on-year, with limited delivery capacity for its Hema supermarkets.

Hitting an increase of 18 million from the 12-month period ended September 30, 2019, Alibaba’s annual active consumers on its China retail marketplaces reached 711 million.

With an increase of 39 million over September 2019, Mobile MAUs on its China retail marketplaces reached 824 million in December 2019.

CEO of Alibaba Group mentioned that the company will be harnessing the power of technology as a preventive measure for the business, in times of global economic slowdown.

Ismawati AsmatAuthor

Translator/Content Writer

Share this Story

More Stories

BEAMSTART News covers the latest stories on Business, Finance, and Opportunities in Asia. We are an extension of global partnerships platform BEAMSTART.

Stay updated with us via our channels below:


Download the App

Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved.