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Alibaba reports strong start to fiscal year, with revenue up 34%, EBITDA 30% higher in June quarter

Thursday 20 August 2020 | 14:22 CET | News
Alibaba started its fiscal year on a strong foot, with revenues for its first quarter to end June jumping 34 percent year-on-year to CNY 153.75 billion. The adjusted EBITDA increased 30 percent to CNY 51.04 billion while the net profit more than doubled to CNY 46.44 billion. The free cash flow went 39 percent higher to CNY 36.57 billion. CEO Daniel Zhang said the company's domestic core commerce business has fully recovered to pre-covid 19 levels across the board. 

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Categories: Internet
Companies: Alibaba
Countries: China
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