Alibaba’s revenues up, but disappoints analysts

Hangzhou, 18th November: Last week, the Alibaba Group released its financial results for the quarter ended 30th September 2021. The company recorded total revenues of US$31.1 billion, up 29% year-on-year. However, net income dropped 81% in the same quarter, down to US$833 million.

Revenues from Alibaba’s B2B business in China, primarily generated through 1688.com, were US$648 million, an increase of 15% year-on-year. Revenues from its international B2B business, primarily operating through Alibaba.com, jumped 34%, reaching US$732 million.