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Alibaba Group revenue up 28%, will bring Macy’s to China

Staff writer ▼ | August 12, 2015
Alibaba Group Holding announced its financial results for the quarter ended June 30, 2015. Revenue was $3,265 million, an increase of 28% year-over-year.
Alibaba
Alibaba Group Holding   The first U.S. department store to join Tmall Global
Macy’s will be the first U.S. department store to join Alibaba’s Tmall Global.
GMV transacted on company's China retail marketplaces was RMB673 billion ($109 billion), an increase of 34% year-over-year. Excluding the effect of the suspended lottery business, GMV would have increased by 36% year-over-year.

Revenue was RMB20,245 million ($3,265 million), an increase of 28% year-over-year. Excluding the effect of the suspended online lottery business and the SME loan business we transferred to Ant Financial, revenue would have increased by 36% year-over-year.

Mobile GMV reached RMB371 billion ($60 billion), an increase of 125% year-over-year, and accounted for 55% of total GMV transacted on our China retail marketplaces; mobile revenue was RMB7,987 million ($1,288 million), exceeding 50% of our total China commerce retail revenue for the first time.

Growth of company's cloud computing and Internet infrastructure business accelerated, with revenue increasing 106% year-over-year to RMB485 million ($78 million). Non-GAAP free cash flow was RMB9,548 million ($1,540 million).

Alibaba Group announced an exclusive agreement with Macy’s China Limited, a joint venture between Macy’s and Hong Kong-based Fung Retailing Limited, a retailer in Greater China.

Under the agreement, Macy’s China Limited will launch an exclusive online flagship store on Tmall Global providing a wide selection of authentic, high-quality Macy’s merchandise to shoppers in China.

This is a major milestone as Macy’s, through the joint venture, will be the first U.S. department store to join Alibaba’s Tmall Global.


 

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