In the previous quarter, the number of active buyers on Alibaba’s retail marketplaces totaled 350 million at the end of March, up 37% year-over-year. Mobile active users rose 9% from 265 million at the end of December to 289 million at the end of March. Mobile revenue from the China commerce retail business rose 352% to $846 million, or 40% of the company’s total China commerce retail business.
Quarterly gross merchandise value (GMV) rose 40% to $97 billion year-over-year but fell 24% sequentially in the fiscal fourth quarter. GMV is the total value of sales transacted on Alibaba’s websites. At the same time, Mobile GMV rose 157% year-over-year to $49 billion and slipped 7% sequentially.
These sequential slides did not have a positive effect on Alibaba as a whole. During this current quarter the company has performed weakly and even now shares are hovering right around their post-IPO low. Over the course of the first quarter shares fell 7.2% and shares have fallen 22.6% year to date.
This will also be the first quarter that Alibaba’s new CEO will be in power. Daniel Zhang, who was previously the COO, replaced Jonathan Lu at the CEO position just following the fiscal fourth quarter earnings. This quarter will be a chance for Zhang to prove himself and turn Alibaba around, however it could take more time than just a single quarter.
A few analysts weighed in on Alibaba prior to the earnings release:
- Sanford Bernstein initiated coverage with a Buy rating.
- Cantor Fitzgerald reiterated a Buy rating with a $110 price target.
- Summit Research reiterated a Buy rating with a $97 price target.
Alibaba’s ADSs were down 4.6% at $76.81 on Tuesday afternoon after posting a new 52-week low of $76.15. The stock has a consensus analyst price target of $106.19 and a 52-week high is $120.00.
ALSO READ: America’s Best Companies to Work For
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
