| | | | | | | | | | |
| | | | Year ended March 31, |
| | | | 2020 | | 2021 | | 2022 |
| | | | RMB | | RMB | | RMB | | US$ |
| | | | | | | | | | (Note 2(a)) |
| | | | (in millions, except per share data) |
| | Notes | | | | | | | | |
Revenue | | 5, 22 | | 509,711 | | 717,289 | | 853,062 | | 134,567 |
Cost of revenue | | 22 | | (282,367) | | (421,205) | | (539,450) | | (85,096) |
Product development expenses | | 22 | | (43,080) | | (57,236) | | (55,465) | | (8,749) |
Sales and marketing expenses | | 22 | | (50,673) | | (81,519) | | (119,799) | | (18,898) |
General and administrative expenses | | 22 | | (28,197) | | (55,224) | | (31,922) | | (5,036) |
Amortization and impairment of intangible assets | | | | (13,388) | | (12,427) | | (11,647) | | (1,837) |
Impairment of goodwill | | 17 | | (576) | | — | | (25,141) | | (3,966) |
Income from operations | | | | 91,430 | | 89,678 | | 69,638 | | 10,985 |
Interest and investment income, net | | | | 72,956 | | 72,794 | | (15,702) | | (2,477) |
Interest expense | | | | (5,180) | | (4,476) | | (4,909) | | (774) |
Other income, net | | 22 | | 7,439 | | 7,582 | | 10,523 | | 1,660 |
Income before income tax and share of results of equity method investees | | | | 166,645 | | 165,578 | | 59,550 | | 9,394 |
Income tax expenses | | 7 | | (20,562) | | (29,278) | | (26,815) | | (4,230) |
Share of results of equity method investees | | | | (5,733) | | 6,984 | | 14,344 | | 2,263 |
Net income | | | | 140,350 | | 143,284 | | 47,079 | | 7,427 |
Net loss attributable to noncontrolling interests | | | | 9,083 | | 7,294 | | 15,170 | | 2,393 |
Net income attributable to Alibaba Group Holding Limited | | | | 149,433 | | 150,578 | | 62,249 | | 9,820 |
Accretion of mezzanine equity | | | | (170) | | (270) | | (290) | | (46) |
Net income attributable to ordinary shareholders | | | | 149,263 | | 150,308 | | 61,959 | | 9,774 |
Earnings per share attributable to ordinary shareholders | | 9 | | | | | | | | |
Basic | | | | 7.10 | | 6.95 | | 2.87 | | 0.45 |
Diluted | | | | 6.99 | | 6.84 | | 2.84 | | 0.45 |
Earnings per ADS attributable to ordinary shareholders (one ADS equals eight ordinary shares) | | 9 | | | | | | | | |
Basic | | | | 56.82 | | 55.63 | | 22.99 | | 3.63 |
Diluted | | | | 55.93 | | 54.70 | | 22.74 | | 3.59 |
Weighted average number of shares used in computing earnings per share (million shares) | | 9 | | | | | | | | |
Basic | | | | 21,017 | | 21,619 | | 21,558 | | |
Diluted | | | | 21,346 | | 21,982 | | 21,787 | | |