Alibaba records slowest revenue growth in years

Hangzhou, 24th February: Last week, the Alibaba Group, the largest e-commerce company in China, released its results for the quarter ended 31st December 2021. The company reported total revenues of US$38 billion, up just 10% year-on-year; one of the slowest growth rates in Alibaba’s history. The group’s net income dropped 75% - down to slightly more than US$3 billion.

Revenues from Alibaba’s China B2B business, primarily generated through 1688.com, were US$664 million. This represents an increase of 10% compared with the same quarter in 2020.

The international B2B business, primarily operating through Alibaba.com, generated revenues of US$760 million, a year-on-year increase of 29%. B2B revenues accounted for only 3.7% of the group’s total revenues in this recent quarter.