Daily Management Review

Alibaba's net profit falls by 33.9%


Net profit of China's largest internet company Alibaba Group Holding for the six months of fiscal year 2020-2021 (ended September 30) fell 33.9 percent year on year to $7.839 billion, the company said in a press release.

Diluted earnings per share were 2.3 yuan ($0.36), down from 3.48 yuan ($0.51) a year earlier. Revenue for the period rose 31.6 per cent year-on-year to $63.077 billion.

For the second quarter of the fiscal year, the company posted net profit of $833 million, down five times from a year ago. Diluted earnings per share for the three months was 1.31 yuan ($0.25) compared with 1.31 yuan ($0.19) a year earlier. Alibaba's total revenue for the quarter rose 29.4% to $31.147 billion.

The company also notes that revenue from Alibaba's retail business in China for the second quarter rose 31% from the same period a year earlier.

source: bloomberg.com