Rakuten Q1 results: revenue up 15.9%

Date : 15 May 2019

Rakuten has published its results for the first quarter, with Group revenue up 15.9% to JPY280,294m (US$2.5bn) compared with the same period last year.

Internet Services revenue up 13.8%

Year-on-year revenue from Internet Services, Rakuten’s core business including ecommerce and travel booking services, increased 13.8% to JPY169,975m (US$1,5bn). Profit jumped 620.8% to JPY111,645m (US$1bn) following investment in U.S. ride-hailing company Lyft Inc.

Investments strengthening Rakuten’s ecosystem

Rakuten’s recent investments include Lyft, online scrapbook company Pinterest Inc and a stake in Dubai-based ride-hailing firm Careem,

Initiatives to grow transaction value

Rakuten has outlined several key focus areas to drive growth in gross transaction value and revenue:

  • Strengthening its customer base and winning new users
  • Promoting cross-use of services
  • Improving customer satisfaction
  • Establishing logistics hubs with a view to expanding the ecommerce platform
  • Enhancing services for smart devices
  • Promoting strategies for opening up the Rakuten ecosystem