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The Chinese online retailer listed on the US stock market reported second quarter results which exceeded analyst forecasts. Total group revenue for the three months to the end of September of 22.17 billion yuan ($3.48 billion) was reported, up 32% from a year earlier. Its China retail marketplaces had 386 million annual active buyers at the period end, a net addition of 19 million since the end of the last quarter. The growth in active buyers was driven by an increase in users accessing its platforms through mobile devices.
Mobile revenue increased year-on-year by 183% to US $1.65 billion. In the September quarter, Alibaba increased its presence in over 4,000 additional rural villages, where it provides purchasing and delivery services. The Chief Executive noted that "This was a great quarter for Alibaba Group, with strong growth across the board and particular outperformance in mobile. We continued our efforts to drive healthy Gross Merchandise Volume growth, deliver an unparalleled consumer experience and help quality merchants do business on our platform."
In August 2015, the Board of Directors authorised a share repurchase programme in an aggregate amount of up to US$4 billion over a period of two years. During the second quarter, Alibaba repurchased and cancelled 40.8 million of its shares for a total price of US $2.74 billion.
Highlights:
Gross merchandise volume (GMV) transacted on its China retail marketplaces was RMB 713 billion (US$112 billion), an increase of 28% year-over-year.
Revenue was RMB 22.17 billion (US$3.48 billion), an increase of 32% year-over-year.
Mobile GMV accounted for 62% of total GMV transacted on its China retail marketplaces; mobile revenue was RMB 10.52 billion (US $1.65 billion), representing a year-on-year increase of 183%.
Growth of its cloud computing and Internet infrastructure business accelerated, with revenue increasing 128% year-over-year to RMB 649 million (US $102 million).
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