It’s business as usual for Alibaba after the Chinese e-commerce giant bounced back from a lackluster Q3 — which saw its slowest growth for three years. For Q4, the company saw revenue surge 51 percent year-on-year to reach 93.5 billion RMB, or $13.9 billion.
That revenue beat analyst expectations of 91.5 billion RMB, according to Barons, and net income came in at 23.38 billion RMB, or $3.48 billion.
Alibaba positions itself as the gateway to Chinese consumers, and it continues to grow. The company said its mobile monthly users — a metric it uses to measure shoppers — reached 721 million in March, an increase of 22 million in three months and 104 million over the last year. Annual active users were up 18 percent to 654 million and the company’s Chinese marketplaces saw GMV — the value of total goods sold — rise by 19 percent year-on-year in its fiscal 2018.
Speaking on a call with analysts, executive chairman Joe Tsai claimed Alibaba is ideally placed to capitalize on China’s switch from an export economy to domestic consumption, despite the ongoing U.S-China trade war…