Chinese e-commerce giant Alibaba reported a 32 per cent rise in revenue in its fiscal Q3, with mobile revenue from its Chinese retail channels surging 192 per cent from a year ago.
Overall revenue rose to CNY34.5 billion ($5.33 billion) in the quarter ending 31 December, with mobile turnover in the retail marketplaces accounting for 54 per cent of overall revenue.
Alibaba CEO Daniel Zhang said: “We had excellent results this quarter. We achieved impressive revenue growth as we are increasingly monetising user activity on our marketplaces, particularly on mobile devices.”
The company’s net profit for the quarter expanded 108 per cent year-on-year to CNY12.45 billion. That included a gain from the sale of its movie-related businesses to Alibaba Pictures in the quarter ended 31 December 2015.
A 192 per cent jump in mobile revenue on the Chinese retail marketplaces to CNY18.7 billion helped push overall revenue in the marketplaces up 35 per cent to CNY28.7 billion. Mobile accounted for 65 per cent of Chinese retail turnover.
The marketplaces – Taobao and Tmall – generated 83 per cent of its total revenue.
Annual active buyers on the retail marketplaces rose by 21 million from the previous quarter to 407 million, while mobile MAUs increased by 47 million quarter-on-quarter to 393 million.
Chinese retail marketplace gross merchandising volumes (GMV) rose 23 per cent during the quarter to CNY964 billion, which was down from 28 per cent growth in fiscal Q2 and 34 per cent growth in Q1. Mobile GMV accounted for 68 per cent of total GMV, up from 62 per cent in Q2 and 42 per cent a year ago.
The monetisation rate rose 3 per cent from 2.7 per cent a year ago due to a jump in the mobile monetisation rate to 2.9 per cent from 2 per cent.