Ali's Q3 FY2022 Revenue of 242.58 Billion

Ali's Q3 FY2022 revenue of 242.58 billion

In the evening of February 24, Alibaba released its Q3 FY2022 financial results. According to the results, Alibaba's revenue for the third quarter of FY2022 was RMB242.580 billion (US$38.066 billion), up 10% year-on-year; net profit was RMB19.224 billion (US$3.017 billion), down 75% year-on-year; excluding US GAAP, net profit was RMB44.624 billion (US$9.074 billion), down 25% year-on-year.

(US$9,074 million), a 25% decline year-on-year. In addition, Alibaba's operating profit fell 34% year-on-year and Adjusted EBITA fell 27% year-on-year. Alibaba said the decline was mainly due to increased investment in growing the business, increased expenses for user growth, and initiatives to support merchants.

For the twelve months ended December 31, 2021, the global Alibaba ecosystem reached approximately 1.28 billion annual active consumers, with 979 million consumers from the China market and 301 million consumers from overseas.

Macy's Q4 sales up 27.8% year-on-year

Macy's recently announced its fourth quarter and full year 2021 results. The results showed that fourth quarter sales were US$8.665 billion, up 27.8% year-on-year, beating market expectations, and net income was US$742 million, up 363.8% year-on-year. 2021 sales were US$24.460 billion, compared to US$17.346 billion a year earlier, and net income was US$1.430 billion, compared to a net loss of US$3.944 billion a year earlier.

In a press release, Macy's said it expects positive momentum and strong consumer demand in the coming months. However, Macy's said that challenges such as inflation, supply chain pressures and labour shortages will persist.