Alibaba posted revenues of 61.9 billion yuan renmimbi (€8.2bn-$9.8bn) in the fourth quarter ended March 31, up by 61 percent from the same quarter a year earlier. Meanwhile, its net profit for the quarter fell by 33 percent to RMB 6.6 billion (€871.5m-$1,042.3m). The decrease was primarily due to non-recurring disposal gains from sales of certain investments in the same quarter of 2017, the company said.
For the fiscal year 2017/2018 ending March 31, Alibaba posted a net profit of RMB 63.985 billion (€8.5bn-$10.1bn), which represents a 47 percent leap from the previous fiscal year. Overall revenues for the year stood at RMB 250.3 billion (€33.1bn-$39.5bn), an increase of 58 percent and the fastest increase since the company's IPO in New York in 2014. Looking at the breakdown, revenues from cloud computing were up by 101 percent, while digital media and entertainment registered a 33 percent increase.
The annual active users on its China retail marketplaces reached 552 million by March 31, 2018, an increase of 37 million from the 12-month period ended Dec. 31, 2017, and an increase of 98 million as compared to March 31, 2017. The gross merchandise value (GMV) on its China retail marketplaces in the fiscal year 2018 rose by 28 percent to RMB 4,820 billion (€636.6bn-$761.2bn), driven by growth in both the number of active users and the average annual spending per consumer. This compares to a GMV annual growth rate of 22 percent in fiscal year 2017.
Looking ahead to the year ending March 2019, the company said that it expects an overall revenue growth above 60 percent, based on the expected performance in its core business as well as positive momentum in new business areas.