Before November 2, Ali disclosed the two-quarter results for fiscal 2019 (that is, the three quarter of 2018).
The revenue growth that investors are most concerned about remains above 50%. In today's international and domestic economic environment, the growth rate of internet giants has slowed sharply, Ali's growth rate of more than 50% is not easy, CEO Zhang Yong attributed it to: ' The synergies brought about by the various businesses, reflects the strength of Afghanistan and Pakistan's digital economy.
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Resistant to cyclical gradual exposure 2018 Q3 (Natural season), Ariying received 85.15 billion, an increase of 54.5% on the same year.
2018 years ago 9 months, total revenue reached 228 billion, an increase of 58.5% over the same period in 2017. The internet giant's revenue growth of more than 50% can be called ' high speed '.
2018 Q3, Faang (Facebook, Amazon, Apple, Netflix, Google) in 20%~34%, all with ' high speed '. In the context of China's slowing macroeconomic growth and the ' consumption downgrade ' jittery, Ali's investors are squeezing the sweat.
They were relieved by the 54.5% growth rate in the third quarter. Here's a look at the results of ' Tmall double 11 '.
If the transaction amount growth rate is still strong, indicating that consumers even if ' money tight ', compressed is also the purchase of a home, buy a car, travel abroad and other aspects of the large expenditure.
Online shopping has become a Chinese just need, e-commerce gradually revealed the ' anti-cyclical ' worthy of attention.
The meaning of ' double 11 ' has long been beyond Ali, and it is, to a considerable extent, a barometer of China's economy and consumer confidence.
Do not rely on the sideline ' carry ' the main business
Ali divides its performance into four major sectors: core e-commerce, cloud computing, digital media entertainment, innovation and more. The core e-commerce business is the ' main engine ', with 2018 Q3 revenue 72.5 billion, an increase of 56%.
2018 years ago 9 months, the total revenue of core e-commerce business reached 193 billion, an increase of 59.4% over the same period in 2017, a higher growth rate than the whole.
Of the bat, only Ali does not rely on the ' sideline to carry the main business '.
Three non-e-commerce business in the revenue of the proportion of fluctuations in the increase in 2015 Q3 9%, 2018 Q3 up to 15%, a total of 12.67 billion yuan. The fastest growing part of the non-e-commerce business is cloud computing. 2018 Q3 revenue was 5.67 billion, an increase of 90.5%.
2018 years ago 9 months, cloud computing revenue was 14.75 billion, up 94.9% from the same period in 2017. The digital entertainment business faces a ' change '. 2017 Q2 revenue growth from 234.5% cliffs in Q1 to 30.2%, apparently not a business issue, but a fundamental change in Ali's strategy for the ' burn money ' business. 2018 Q3, revenue from the digital entertainment business was 5.9 billion, an increase of just 23.8% per cent.
2018 years ago, in the 9 months, total revenue from digital entertainment was 17.2 billion, an increase of 34.2% over the same period in 2017. Innovative business includes Gauder navigation, YunOS and other businesses. Entering fiscal year 2018 (starting on April 1, 2017), revenue growth has fluctuated and even experienced negative growth in one quarter. 2018 Q2, innovation business revenue 1.07 billion, an increase of 20% year, the end of the four major sectors.
2018 years ago 9 months, the total revenue of the innovation business 3.11 billion, an increase of 26.5% over the same period in 2017. Baidu's search business is tired, and ECHO has become the main engine driving revenue growth, although burning money also has to ' protect growth '.
Tencent's gaming business is under policy pressure, so ' other business ' becomes the biggest growth engine (Yin Seng language). Ali's e-commerce business is full of power, so there is a lot of choice in developing a digital entertainment and innovation business strategy. The significance of cloud computing is clear and worth securing.
Other ' sideline ' may as well do while looking, flexible adjustment strategy. For internet companies, the dividends of advertising, social, gaming and other fields have been eaten almost, and only e-commerce still eats them.
It is expected that in 2018, all Chinese e-commerce transactions accounted for no more than 20% of the total retail sales of social goods, the space is still very large.
E-commerce makes money, cloud computing Thanks value
1) Core e-commerce The core e-commerce is Ali's only profitable business. 2018 Q3 EBIT profit 29.8 billion, profit margin 41%.
It was 20% lower than the 2016 Q3, but the amount increased by 69%. According to the seasonal characteristics of the Alibaba e-commerce business, the peak of EBIT before it occurs in the third quarter of each year.
2017 Q4 up to 38.5 billion. 2018 years ago 9 monthly EBIT profit 84.8 billion, average day 310 million.
2) Cloud Computing 2018 Q3, Cloud computing business lost 230 million, loss rate of 4.1%.
Given the importance of cloud computing, this loss amount and loss rate are not enough. It is worth noting that the total loss of cloud computing business in the past 12 quarters was 2.49 billion, of which 1 billion was 2018 years ago three quarters of the loss, that is, the loss accelerated. The main reason is the change in the market environment, Ali is no longer a ' lonely forerunner ', domestic and foreign internet giants are eyeing the cloud computing market.
Promotion, giveaway and other measures become an important means for players to scramble for market share.
Still, after a 490 million loss in Q2 's cloud computing business in 2018, Q3 lost just 230 million, suggesting that Ali remained restrained.
3) Digital Entertainment Alibaba's digital entertainment business mainly includes YouTube potatoes and UC browsers. 2018 Q3, the digital entertainment business before the interest tax loss of 3.8 billion, the loss rate of 64%.
2018 years ago in the three quarter, the digital entertainment business has lost 9.53 billion, an average daily loss of 34.91 million! Cloud computing three-year deficit 2.49 billion, digital entertainment three quarter loss 9.53 billion, not worth it. However, Tencent, Baidu's video business burning money even more. Ma Yun said that I am afraid that everyone is good, your family is not good (the original words forgot).
In the online video burning money This matter, the big three same.
4) Non-e-commerce business losses 2018 Q3, Ali Total EBITA was 23.16 billion. E-commerce business to earn 29.8 billion, the three categories of non-e-commerce business loss of 5.28 billion.
Non-e-commerce business losses are equivalent to 22.8% of EBITA.
2017 Q2, Q3, Q4, this proportion was suppressed in the early 10%, 2018 suddenly ' riot ', indicating that Ali adopted a more aggressive, more offensive strategy. But new business losses exceed the EBIT profit of One-fifth, and this is not a durable solution for Ali, a ' money-flowing gene in the blood ' (Liang Jianzhang language).
2019 Ali may become more conservative, guaranteed growth, but also to protect profits. At the beginning of the year, it was speculated that Ali might sell the video business to echo, significantly reducing the financial burden, and that the video content in the ' ecosystem ' had increased a few times.