Alibaba Group Holding Limited (NYSE:BABA) Q1 2020 Earnings Conference Call - Final Transcript

May 22, 2020 • 07:30 am ET

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Alibaba Group Holding Limited (NYSE:BABA) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, thank you for standing by and welcome to Alibaba Group's March Quarter and Full Fiscal Year 2020 Results Conference Call. [Operator Instructions]. After management's prepared remarks, there will be a question-and-answer session.

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

Executive
Ron Lin

Hi, operator, can you hear me?

Operator
Operator

Please go ahead.

Executive
Ron Lin

Operator?

Okay. Good day everyone and welcome to Alibaba Group's March quarter 2020 and fiscal year 2020 results conference call. With us are Daniel Zhang, Executive Chairman and CEO; Joe Tsai, Executive Vice Chairman; Maggie Wu, Chief Financial Officer.

This call is also being webcast from 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 including revenue patterns. These forward-looking statements involve inherent risks and uncertainties that may cause actual results to differ materially from our current expectations including risks and uncertainties related to the COVID-19 pandemic. For detailed discussions of these risks and uncertainties, please refer to our latest Annual Report on Form 20-F and other documents filed with U.S. SEC.

We're announced on the website of the Hong Kong Stock Exchange. 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 know 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 earnings per share, or ADS, 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 the year-on-year growth versus the same quarter last year.

In addition during today's call management will give their prepared remarks in English, a third-party translator will provide simultaneous Chinese translation on another conference line. Please refer to our press release for details. During the Q&A session we will take questions in both English and Chinese and a third party translator will provide a consecutive translation. All translations are for convenience purpose only. In the case of any discrepancy, our management statement in the original language will prevail.

With that I will now turn the call to Daniel.

Executive
Daniel Zhang

Thank you, Rob. Hello everyone, thank you for joining our earnings call today. We have finished an extraordinary quarter and have delivered an outstanding fiscal year. Despite the impact of COVID-19 pandemic, Alibaba achieved a historical milestone of $1 trillion in GMV across our digital economy this fiscal year, a strategic goal that we set for ourselves five years ago. We at Alibaba have always been aiming for the stars while keeping our