[TechWeb] May 15 news, Alibaba Group released the fourth quarter of fiscal year 2019 and results for fiscal year 2019 before trading today. The data show that the revenue of Alibaba Group reached 376.844 billion yuan in the current fiscal year. Revenue in the fourth quarter reached 93.498 billion yuan, up 51 percent from the same period last year. Benefiting from the good performance of the results, Alibaba shares rose more than 4 percent at one point to a peak of $183.35.
Alibaba Group CEO Zhang Yong said that Alibaba is increasingly becoming a daily synonym for Chinese consumption, with 650 million active consumers throughout the year and expanding our penetration rate in the sinking market. Our cloud, data technology and the tremendous pull of new retail enable us to continue to transform the way companies operate in China and other emerging markets, which will benefit our long-term growth.