Alibaba posted revenue of $28.6B in Q4, a 64% increase YoY. It reported a net loss of $836M due to a record $2.8B fine it received from China’s State Administration for Market Regulation last month, following an anti-monopoly investigation. This marks the first time Alibaba has posted a loss since it went public in 2014.
- Alibaba's e-commerce platform saw sales rise by 72%, while its logistics unit's revenue was up 101%.
- To compete against JD.com and Pinduoduo, Alibaba is doubling down on Taobao Live, the live streaming shopping feature of its e-commerce site.
- It has been offering discounted products to attract consumers in lower-tier cities, who have less disposable income. About 70% of its new active users came from rural areas, which shows its strategy has been working.
- CEO Daniel Zhang said Alibaba has reduced fees for merchants and made it easier for them to open online stores.