Alibaba declares its September Quarter 2020 Results on November 5, 2020. As per the report, Marketplace-based Core Commerce Adjusted EBITA increased by 12% YoY to RMB50,940 million (US$7,503 million).
Core Commerce Adjusted EBITA increased by 19% YoY to RMB45,958 million (US$6,769 million), primarily due to an increase in marketplace-based core commerce adjusted EBITA, as well as reduced losses for the local consumer services business. Core Commerce Adjusted EBITA margin was 35%.
Cloud Computing revenue increased by 60% YoY to RMB14,899 million (US$2,194 million), primarily driven by growth in revenues from customers in the Internet, finance, and retail industries. Adjusted EBITA was a loss of RMB156 million (US$23 million).
Digital Media and Entertainment revenue increased 8% YoY to RMB8,066 million (US$1,188 million), primarily due to an increase in revenues from online games, partly offset by the decrease in revenue from customer management. Adjusted EBITA was a loss of RMB710 million (US$105 million).
Innovation Initiatives and Others revenue increased by 10% YoY to RMB1,172 million (US$173 million). Adjusted EBITA was a loss of RMB2,381 million (US$351 million).
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Maya Grinberg is a careers Reporter for Tech News vision make it. Prior to joining Tech News Vision, she worked as a fiction stories and a freelancer for magazine, where she eventually worked her way up to careers editor. During this time, she created daily content for own website and worked with the research team to create content. she developed some own Newswebsite.