Alibaba Group Holding Limited (NYSE:BABA) Q4 2019 Earnings Conference Call Transcript
May 15, 2019 • 07:30 am ET
flow. In the past fiscal year adjusted EBITA from our marketplace based core commerce business with nearly $24 billion.
We expect this strong profitability and positive cash flow characteristics of this revenue base to continue into fiscal 2020. This would allow us to invest in strategic businesses, including local services, digital entertainment, international market, New Retail, logistics and Cloud Computing. These strategic businesses are what we believe to be big growth areas that will substantially increase our total addressable market.
We will continue to be disciplined, patient and innovative in our approach to grow of strategically important businesses that adds long-term value to the customers and Alibaba digital economy.
That concludes our prepared remarks. Let's open for Q&A.