Alibaba Group Holding Ltd (NASDAQ:BABA) lost ground on quarterly financial figures Thursday.
The Hangzhou, China-based company told investors revenue was RMB153,751 million ($21,762 million U.S.), an increase of 34% year-over-year.
Annual active consumers on its China retail marketplaces reached 742 million, an increase of 16 million from the 12-month period ended March 31, 2020.
Income from operations was RMB34,705 million ($4,912 million U.S.), an increase of 42% year-over-year. Adjusted EBITDA, a non-GAAP measurement, increased 30% year-over-year to RMB51,039 million ($7,224 million U.S.). Adjusted EBITA, a non-GAAP measurement, increased 31% year-over-year to RMB45,372 million ($6,422 million U.S.).
Net income registered at RMB47,591 million ($6,736 million U.S.), and net income was RMB46,437 million ($6,573 million U.S.). Non-GAAP net income was RMB39,474 million ($5,587 million U.S.), an increase of 28% year-over-year.
Alibaba goes on to say its New Retail operations continue to accelerate digitalization of our offline retail partners and enable them to offer a seamless omni-channel experience for consumers. Businesses within our New Retail grocery vertical are benefiting from Chinese consumers’ increasing adoption of online shopping for groceries and daily necessities.
Alibaba Cloud leads the Asia Pacific cloud computing market by developing technology and business solutions that enable the digital transformation of businesses across industries.
According to IDC, Alibaba Cloud was the largest public cloud service provider in China, as measured by market share for IaaS (Infrastructure as a Service) as well as PaaS (Platform as a Service) for the quarter ended March 31, 2020.
Shares in BABA surrendered $3.94, or 1.5%, early Thursday to $256.65.