Alibaba has released its results for the first quarter of 2016 and they’re very good. But the performance and growth of their mobile sales is the big story.
– Alibaba’s Q1 revenue: $3.75 billion, up 39% year on year.
– 410 million active mobile users, up 17 million since the end of 2015
– Total sales volume on Alibaba’s China retail marketplaces: $115 billion, up 24% year on year
– And 73% of that was on mobile. was conducted on mobile (roughly $84 billion).
– Mobile revenue of $2.03 billion up 149% YOY.
CEO of Alibaba Daniel Zhang said of the results: “Alibaba Group finished the fiscal year on a very strong note. In March, we surpassed RMB 3 trillion [$461.5 billion] in annual GMV, and our revenue for the year was over RMB 100 billion [$15.4 billion]. We achieved strong growth in mobile users, active buyers and transactions. Our focus on long-term strategic priorities — globalization, rural expansion, building a world-class cloud computing business and creating a comprehensive media and entertainment platform — has laid a strong foundation for future growth.”
