The e-commerce giant Alibaba Group reported for the last quarter of fiscal year 2020 and the year as a whole, ending on March 31.
According to the company, its business is growing steadily and an active user base around the world has reached 960 million people. Recently, the number of online orders has increased significantly due to the pandemic.
The company’s revenue for the quarter was $ 16.144 billion, an increase of 22% in annual terms. At the same time, operating profit for the year decreased by 19%, to $ 1.007 billion, and net profit – by 99%, to $ 49 million.
As for the results of the year as a whole, revenue reached $ 71.985 billion, an increase of 35% compared with the previous year. Operating profit grew by 60%, and net profit of $ 19.821 billion was the end of the year.