Alibaba Announced Third Quarter Financial Results. Operating profit of online shopping, which is the main business, decreased by 17%

EC Weekly Picks 中国旗

On November 18, China's online shopping major "Alibaba" announced its financial results for the third quarter of 2021. Sales increased 29% from the same period of the previous year to 200.6 billion yuan (approximately 3.5907 trillion yen). Net income decreased 81% to 5.3 billion yuan (approximately 94.9 billion yen). The operating profit of online shopping, which is the main business, decreased by 17% to 25.6 billion yuan (approximately 458.2 billion yen). The number of users increased by 20% from the previous year to 935 million as of September. Alibaba performed well with a transaction volume of 540.3 billion yuan (approximately 9.65 trillion yen) at China's largest online shopping sale "Single's Day (Double Eleven)" to have been held on November 11. However, the growth is slowing due to the impact of regulations on Internet companies to be an increase of 8.5% compared to 2020.

Sources: The Company's Financial Results Announcement Material  "Alibaba Group Announced September Quarter 2021 Results" (November 18, 2021)

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