China’s e-commerce leader Alibaba Group continues to benefit from China’s digital transformation, which has been accelerated by the pandemic.
LONDON —
Income from operations was $4.91 billion, up 42 percent, and adjusted earnings before interest, taxes, depreciation and amortization increased 30 percent to $7.22 billion in the same period. Daniel Zhang, chairman and chief executive officer of Alibaba Group, said the company is well-positioned to capture growth from the ongoing digital transformation in both consumption and enterprise operations.
The group also highlighted Lazada’s strong growth in Southeast Asia, Alibaba’s biggest market outside China. It achieved more than 100 percent quarterly order growth and saw solid merchant growth and greater increases in product supplies.
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