As coronavirus outbreak, the so-called Black Swan event, is helping to accelerate digital transformation of Alibaba

Feb 17, 2020 ANT FINANCIAL HeMa

On February 13, US time, Alibaba announced the third quarter of 2020 financial results (2019.09 - 2019.12.31). Throughout the third fiscal quarter, Alibaba's revenue reached 161.456 billion yuan, an increase of 38% year on year. And the net profit attributable to ordinary shareholders of Alibaba Group was 52.309 billion yuan, an increase of 58% year on year. There is no doubt that both Alibaba Group's revenue and net profit exceeded analysts' expectations.

According to the financial report, Alibaba's core e-commerce business revenue in the third quarter reached 141.475 billion yuan, up 38% year on year. The second engine cloud computing accounted for 10.721 billion yuan, a year-on-year increase of 62%. At the same time as the growth rate of core e-commerce business declined, the previously adjusted new retail began to make efforts. The branch represented by Hema received 25.814 billion yuan in revenue in the third quarter, accounting for 15.6% of Alibaba's total revenue, up from 15% in the last quarter.

Alibaba Group's users continued to grow in the third quarter. The number of annual active consumers in China's retail market reached 711 million, and the number of mobile single-month active users in China's retail market reached 824 million, a slight increase compared with the previous quarter.

Alibaba CEO Zhang Yong also said during the conference call that the ongoing pneumonia epidemic is a "Black Swan event", which will have an impact on the company, but is "one-off".