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Alibaba Mobile Revenue Grew 192% in Latest Quarter

There’s no stopping Alibaba.

On Thursday, the Chinese e-commerce powerhouse boasted that revenue for the quarter ended Dec. 31 was up 32 percent year-over-year to 34.5 billion yuan, or $5.3 billion, driven mostly by its core online marketplaces Taobao and Tmall which registered a 35 percent increase over the year-ago period to reach 28.7 billion yuan ($4.4 billion).

By comparison, analysts polled by S&P Capital IQ Consensus Estimates had projected revenue of $5.13 billion.

Mobile revenue, meanwhile, was up 192 percent to 18.7 million yuan ($2.9 billion).

The company also said that its annual active buyers on its China retail marketplaces had risen to 407 million by the end of the quarter, an increase of 21 million over the prior quarter. In addition, gross merchandise volume (GMV) transacted on these platforms grew 23 percent year-over-year to 964 billion yuan ($149 billion), with mobile accounting for 68 percent of that increase.

In particular, the annual Singles’ Day shopping event—which took place on Nov. 11—was singled out as one of the quarter’s success stories. More than 115 million buyers visited Alibaba’s websites, spending 91.2 billion yuan ($14 billion) over the course of the 24-hour promotional period.

“We achieved impressive revenue growth as we are increasingly monetizing the user activity on our marketplaces, particularly on mobile devices,” Maggie Wu, chief financial officer, said. “Meanwhile, we generated strong free cash flow of $3.7 billion this quarter. The fundamental strength of our core business gives us the confidence to invest in our strategic priorities.”

Alibaba Group had an outstanding quarter, reaching a milestone of over 400 million annual active buyers and continuing our unrivaled leadership in mobile,” Daniel Zhang, chief executive officer of Alibaba Group, continued. “Our proven ability to deliver an unparalleled consumer experience and to help merchants attract, engage and retain buyers will drive future growth in our core business. We remain focused on our top strategic priorities, including global imports, rural expansion, increasing our footprint in first-tier Chinese cities and building a world-class cloud computing business.”