Alibaba Group announced its results for the quarter ended 31st December 2015. The company reported total revenues of US$5.33 billion – up by 32% year-on-year. The company also reported that US$149 billion of Gross Merchandize Volume (GMV) was transacted on Alibaba’s marketplaces – up by 23% year-on-year. Mobile GMV reached US$100 million and now accounts for 68% of total GMV. The group’s mobile revenue increased by 192% to US$2.89 billion.
A highlight of Alibaba was their fast-growing cloud business which only accounted for 2.3% of the group’s revenue. Revenue from cloud computing and internet infrastructure jumped 126% year-on-year to US$126 million.
Source: Business Strategies Group Hong Kong – www.bsgasia.com