Unstoppable Alibaba: revenues up 41%

Hangzhou, 13th May: Last week, China’s largest e-commerce company, the Alibaba Group, announced its financial results for the year ended 31st March 2021. Revenues were US$109 billion, representing year-on-year growth of 41%. Net income in the year was an incredible US$23 billion, in line with the previous year. Diluted earnings per share in the year were RMB 54.70 (US$8.35).

Just 4% of total revenues were generated from its B2B businesses – although that still amounts to a very impressive US$4.4 billion. Revenues from Alibaba’s B2B business in China, generated through its 1688.com platform, increased by 15% year-on-year, reaching US$2.19 billion. Interestingly, the international B2B business, Alibaba.com, grew considerably faster posting revenues of US$2.20 billion, up 50% year-on-year.