Alibaba shows strong performance in Q2 2019 despite the trade war
Chinese e-commerce giant Alibaba revealed its report for the second quarter of 2019 on Friday, August 15, showing strong growth despite the U.S.-China trade war.
The company managed to add 121 million active monthly users within the last 12 months and 98 million new active users.
Per the report, the total amount of Alibaba’s users on Chinese retail marketplaces reached 674 million by the end of March 2019, while the number of mobile monthly active users reached 755 million by June 2019.
The quarterly revenue reached $16.7 billion, which is a year-on-year increase of 42%. Meanwhile, net profit came in at $3.1 billion.
Late July, Chinese tech giant Huawei revealed its numbers for the first half of 2019, which show that the company had also continued growing despite the U.S. ban on its production. Huawei made 221.6 billion yuan ($32.2 billion) in revenue in Q2 2019, which represents a 23% increase year-on-year. Moreover, the number of smartphones sold in H1 2019 had also increased.
However, despite the fact that major Chinese companies are mainly unaffected by the U.S. tariffs so far, the Chinese economy is gradually slowing its growth. Most recently, China’s industrial output growth receded to its lowest point in over 17 years amid the trade war.
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