Alibaba Group Announces December Quarter 2020 Results
Summary
Looking ahead, we are confident that we will continue to create value for our customers, lead with innovation and make our contributions to society.” “ We delivered another solid quarter, with revenue growth of 37% year-over-year and adjusted EBITDA up 22% year-over-year, while our strong free cash flow enabled us to further invest in strategic areas,” said Maggie Wu, Chief Financial Officer of Alibaba Group. This service leverages the capabilities and economies of scale of Alibaba’s logistics infrastructure to enable brands to quickly enter the China market while reducing sales uncertainty and controlling costs. During the December quarter, we introduced the Follow (订阅) and Entertain (逛逛) features on the front-page of the Taobao app, which further improved user engagement with brands, merchants, key opinion leaders (KOLs), vloggers and content creators. Our self-operated grocery retail chain Freshippo (known as “Hema” in Chinese) achieved healthy double-digit same-store sales growth during the quarter as we continued to optimize its product supply and improve customer experience. In addition, Alibaba Pictures enhanced the production capabilities of popular original dramas that are exclusively featured on Youku and increased IP commercialization by content owners on our online marketplaces.
Classifications
AskAI Classifications
LabelsLinked Companies
