Alibaba Group announced its results for the quarter and the fiscal year ended 31st March 2015. For the quarter ended 31st March, the company recorded revenues of US$2.8 billion, up 45% over same period in 2014. However, net income in the period was down 49% year-on-year, to US$463 million.
Revenues from Alibaba’s China B2B business, primarily generated from 1688.com, grew by 42% to US$136 million. The company’s international B2B business, primarily from Alibaba.com, generated revenues of US$194 million. This represents a 19% increase from the same quarter in 2014. In total, B2B revenues for the quarter amounted to US$330 million or 12% of overall revenues.
For the year ended 31st March 2015, revenues were US$12 billion, a jump of 45% from the previous year. Net income was up by 4% in 2015, reaching US$3.9 billion. Diluted earnings per share in the fiscal year were RMB 9.70 (US$1.56).
The company also disclosed in its financial announcement the appointment of its current COO, Daniel Zhang, as CEO effective 10th May 2015. Alibaba Group’s current CEO, Jonathan Lu, will remain on the company’s board of directors as vice chairman.
Source: Business Strategies Group Hong Kong – www.bsgasia.com