Alibaba reports strong revenue in Q4 2019

Results for next quarter may decrease due to slowing economy.

Alibaba reports strong revenue in Q4 2019 | BEAMSTART News

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.

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