Alibaba Group’s revenues and net income rise – yet again

Hangzhou, 2nd February: Earlier this week, the Alibaba Group, the largest e-commerce company in China, announced its results for the quarter ended 31st December 2020. The company reported total revenues of US$34 billion, up 37% year-on-year. The group’s net income jumped 56%, reaching US$12 billion.

In terms of its B2B business, revenues from Alibaba’s China B2B business, primarily generated through 1688.com, were US$587 million. This represents an increase of 14% over the same quarter last year.

The company’s international B2B business, primarily operating through Alibaba.com, generated revenues of US$577 million – an increase of 53% year-on-year. However, Alibaba’s B2B revenues for the quarter accounted for just 3.4% of the group’s revenues.