As a result, Alibaba Cloud revenues for the fiscal year ended March were up 121% y-o-y to RMB 6.7 billion.
Alibaba has ramped up expansion outside of China and consolidated its Southeast Asian retail site Lazada, which it acquired previous year.
Despite a slight dip in EBITDA margins for the quarter and fiscal year, Alibaba's diluted non-GAAP EPS was around 95% and 40% higher at RMB 4.12 for the quarter and RMB 23.44 for the full year, respectively. The number of mobile mobile active users on those marketplaces reached 507 million in March, an increase of 14 million over December 2016. Alibaba is "working with talent and directors on proprietary content, so over time the cost should come down". There may not be a better player demonstrating how winning in e-commerce also requires major capital outlays.More news: 14th GST council meet starts in Srinagar
"Investors will be paying attention to Alibaba's top-line growth guidance for next year", Ray Zhao, an analyst at Guotai Junan Securities, told Bloomberg News. "Alibaba is spending a lot to drive growth in video and entertainment".
However, the firm is targeting new business avenues, like cloud computing, big data, entertainment and offline retail.
"The potential leveraging up of the Chinese consumer, especially among the younger Chinese population, will provide a powerful driver of consumption many years into the future", Mr. Tsai said.More news: Trump approval at lowest level since inauguration
According to data from Bank of China International, Lazada Group SA, which Alibaba purchased a year ago, is leading in market share in six major countries in Southeast Asia, including Malaysia, Indonesia and the Philippines. It closed the year with a loss of 1.68 billion yuan (US$244 million), improving on last year's operating loss of 2.61 billion yuan (US$378.1 million).
Underpinning that is the company's strength in its core businesses as well as its assertiveness to expand geographically and in terms of products and services, according to Alibaba Group CFO Maggie Wu. In March we surpassed RMB3 trillion in annual GMV and our revenue for the year was over RMB100 billion.
However, while revenues exceeded expectations, Alibaba's earnings fell short of forecasts with the company posting net income of RMB 9.9bn ($1.4bn) and adjusted EBITDA of RMB 16.6bn ($2.4 bn).More news: Paytm raises USA $1.4 billion from SoftBank
"Our robust results demonstrate the strength of our core businesses, as well as the positive momentum of our emerging businesses, including cloud computing, where we continue to see strong growth and market leadership".
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