China internet giant Alibaba Thursday reported September-quarter results that beat earnings but showed another quarter of weak revenue performance. The e-commerce firm reported adjusted earnings of $1.82 per U.S. share on revenue of $29.12 billion. On a year-over-year basis, Alibaba’s earnings rose 15% while sales increased 3%. In the prior quarter, revenue fell by 4%.
Cainiao Logistics
Cainiao Logistics is an internet technology company specializing in platform services for logistics networks. In the quarter that ended September 30, 2022, revenue from Cainiao, before inter-segment elimination, grew 26% year-over-year to RMB18,282 million (US$2,570 million), of which 73% was generated from external customers. Revenue from Cainiao, after inter-segment elimination, grew 36% year-over-year to RMB13,367 million (US$1,879 million), primarily contributed by the increase in revenue from domestic consumer logistics services as a result of service model upgrade since late 2021 to enhance the consumer experience and international fulfillment solution services.
Cainiao continues to expand its international logistics network by strengthening its end-to-end logistics capabilities, including eHubs, line-haul, sorting centers, and last-mile network. In October 2022, Cainiao commenced the operation of two new international sorting centers, bringing the number of overseas sorting centers to 12.
In China, Cainiao continues to expand its Cainiao Post network, which offers various value-added services to improve consumer experience and delivery efficiency, which complements our China commerce businesses. During the quarter, the total number of Cainiao Posts, including those in rural areas and universities, grew more than 20% year-over-year to over 170,000. Cainiao Posts located in urban residential communities grew to over 116,000, of which over 80,000 offer doorstep parcel delivery services.