Confirming a recovery from the first wave of the Covid-19 pandemic in China, the Alibaba Group reported a 30 percent increase in overall revenues to 155.1 billion yuan renminbi (€19.9bn-$23.5bn) in the third quarter, leading to a rise of 28 percent in adjusted Ebitda to RMB 47.5 billion ($6.1bn-$7.2bn). The attributable net income jumped by 60 percent to RMB 28.8 billion (€3.7bn-$4.4bn).
The company said that the number of active consumers on its Chinese retail marketplaces, including Tmall, reached 757 million on a rolling 12-month basis through Sept. 30, with a quarterly increase of 15 million as compared to June 30. The gross merchandise volume (GMV) on Tmall rose by 21 percent, driven by fast-moving consumer goods, with the apparel category’s growth recovering to pre-epidemic levels.
The GMV on the Tmall Global marketplace, which is used by international brands and merchants, went up by 37 percent. Alibaba also reported a growth of 100 percent in the volume of orders collected by its Southeast Asian e-commerce platform, Lazada. Revenues from cloud computing rose by 60 percent.