Alibaba Group Holding Limited (NYSE: BABA) released unaudited earnings reports for the quarter ended June 30, 2024 on August 15, 2024. The revenue for this quarter was RMB 243.236 billion (approximately USD 33.47 billion), an increase of 4% year-on-year. Operating profit decreased by 15% year-on-year to RMB 35.989 billion (approximately USD 4.952 billion). Net profit attributable to ordinary shareholders was RMB 24.269 billion (approximately USD 3.34 billion), and net profit was RMB 24.022 billion (approximately USD 3.306 billion), a year-on-year decrease of 27%. Non-GAAP net profit was RMB 40.691 billion (approximately USD 5.599 billion), a year-on-year decrease of 9%. Diluted earnings per ADS were RMB 9.89 (approximately USD 1.36), and non-GAAP diluted earnings per ADS were RMB 16.44 (approximately USD 2.26), a year-on-year decrease of 5%. CEO Daniel Zhang said that...Show More

Alibaba Group Holding Limited (NYSE: BABA) released unaudited earnings reports for the quarter ended June 30, 2024 on August 15, 2024. The revenue for this quarter was RMB 243.236 billion (approximately USD 33.47 billion), an increase of 4% year-on-year. Operating profit decreased by 15% year-on-year to RMB 35.989 billion (approximately USD 4.952 billion). Net profit attributable to ordinary shareholders was RMB 24.269 billion (approximately USD 3.34 billion), and net profit was RMB 24.022 billion (approximately USD 3.306 billion), a year-on-year decrease of 27%. Non-GAAP net profit was RMB 40.691 billion (approximately USD 5.599 billion), a year-on-year decrease of 9%. Diluted earnings per ADS were RMB 9.89 (approximately USD 1.36), and non-GAAP diluted earnings per ADS were RMB 16.44 (approximately USD 2.26), a year-on-year decrease of 5%. CEO Daniel Zhang said that the performance of this quarter showed the effectiveness of the company's strategy and its focus on improving the user experience, as well as driving business growth back on track. CFO Maggie Wu said that the company continues to invest in driving core business growth and achieving stable EBITA. In addition, the company has repurchased USD 5.8 billion worth of shares, creating returns for shareholders. Detailed earnings reports can be viewed on the company's official website and the website of the Hong Kong Stock Exchange.