Alibaba Group's Revenue Grows 37% to $34.2bn in Q3| Dao Insights

Alibaba Group’s revenue grows 37% to $34.2bn in Q3

Earlier this week, Alibaba Group released its financial report for the third quarter of the financial year (ending December 31, 2020). The group’s revenue for Q3 was 221.08 billion RMB ($34.2 billion), a 37% year-on-year increase.

Annual active consumers on Alibaba’s China retail marketplaces reached 779 million in 2020, while mobile monthly active users hit 902 million in December.

Some other stand-out figures across Alibaba’s network of businesses include:

  • Livestreaming channel Taobao Live‘s GMV exceeded 400 billion RMB ($61.89 billion) in 2020. However, this was lower than its upgraded target of 500 billion RMB.
  • The monthly active users of Taobao Special Edition exceeded 100 million in December 2020. Taobao Special Edition is an initiative which aims to drive the digital transformation of manufacturing businesses in rural China.
  • Cainiao Network’s revenue increased by 51% year-on-year to 11.36 billion RMB ($1.76 billion). Alibaba’s logistics platform worked with partners to shorten the average delivery time of orders to the international market by 3.5 days.

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