Alibaba Group Holding Limited (NYSE:BABA) Q4 2019 Earnings Conference Call Transcript

May 15, 2019 • 07:30 am ET

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Alibaba Group Holding Limited (NYSE:BABA) Q4 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen. Thank you for standing by. Welcome to Alibaba Group's March Quarter 2019 and Full Fiscal Year 2019 Results Conference Call. At this time, all participants are on only-mode. After management's prepared remarks, there will be a Q&A session.

I'll now like to turn the call over to Rob Lin, Head of Investor Relations of Alibaba Group. Please go ahead.

Executive
Rob Lin

Good day, and good evening everyone, and welcome to Alibaba Group's March quarter and fourth fiscal year 2019 results conference call. With us are Joe Tsai, Executive Vice Chairman, Daniel Zhang, Chief Executive Officer, Maggie Wu, Chief Financial Officer. This call is also being webcast on our IR section of the corporate website. A replay of the call will be available on our website later today.

Now, let me quickly cover the safe harbor. Today's discussion will contain forward-looking statements. These forward-looking statements involve inherent risks and uncertainties that may cause actual results to differ materially from our current expectations. For detailed discussions of these risks and uncertainties, please refer to our latest Annual Report on Form 20-F and other documents filed with the US SEC. Any forward-looking statements that we make on this call are based on assumptions as of today, and we do not undertake any obligation to update these statements except as required under applicable law.

Please note that certain financial measures that we use on this call such as adjusted EBITDA, adjusted EBITDA margin, adjusted EBITA, adjusted EBITA margin, marketplace-based core commerce adjusted EBITA, non-GAAP net income, non-GAAP diluted EPS and free cash flow are expressed on a non-GAAP basis. Our GAAP results and reconciliations of GAAP to non-GAAP measures can be found in our earnings press release. Unless otherwise stated, growth rate of all stated metrics mentioned during this call refers to year-on-year growth versus the same quarter last year or the previous year.

With that, I would now turn the call to Joe.

Executive
Joe Tsai

Thanks, Rob. Thank you all for joining us. We had a great quarter with operations, revenues and profits, beating expectations. This shows the resilience of our business in the face of complex geopolitical and economic conditions. Before Daniel and Maggie take you through our exciting quarter, I want to address the elephant in the room, which everyone calls the trade war.

Let's distill the complexity of US-China relations to what it means for Alibaba. In short, the trade talks put Alibaba on the right side of all of the issues on the table. First, the reduction of the US trade deficit. China's commitment to purchase more American products, means China will over the next several years become a net importing country. Consumers in China will benefit from the availability of quality imported products from all over the world, including from American farmers, brands and small businesses. Alibaba is set up to benefit from this secular trend of growing imports into China. We are the platform of choice for global producers of products and brands selling into China, because