Alibaba Group Holding Limited reported a steady financial performance for the fiscal year ended March 31, 2024, with total revenue increasing by 8% to RMB 941,168 million (USD 130,350 million). Net income also saw an uptick, rising by 9% to RMB 71,332 million (USD 9,879 million). The company's non-GAAP net income, which excludes certain expenses and gains, grew by 11% to RMB 157,479 million (USD 21,811 million). The Taobao and Tmall Group segment remained a significant contributor, with a 5% increase in revenue, while the Cloud Intelligence Group saw a 3% rise. The Alibaba International Digital Commerce Group experienced a notable 60% surge in revenue, driven by solid order growth and improvements in monetization. Cainiao Smart Logistics Network Limited's revenue grew by 28%, and the Local Services Group saw a 19% increase. Digital...Show More

Alibaba Group Holding Limited reported a steady financial performance for the fiscal year ended March 31, 2024, with total revenue increasing by 8% to RMB 941,168 million (USD 130,350 million). Net income also saw an uptick, rising by 9% to RMB 71,332 million (USD 9,879 million). The company's non-GAAP net income, which excludes certain expenses and gains, grew by 11% to RMB 157,479 million (USD 21,811 million). The Taobao and Tmall Group segment remained a significant contributor, with a 5% increase in revenue, while the Cloud Intelligence Group saw a 3% rise. The Alibaba International Digital Commerce Group experienced a notable 60% surge in revenue, driven by solid order growth and improvements in monetization. Cainiao Smart Logistics Network Limited's revenue grew by 28%, and the Local Services Group saw a 19% increase. Digital Media and Entertainment Group's revenue rose by 15%, and the 'All others' segment, which includes various businesses, saw a slight 2% decrease in revenue. The company's cost of revenue increased by 7%, and sales and marketing expenses rose by 11%. General and administrative expenses remained relatively stable. The company also reported an increase in impairment of intangible assets and goodwill, mainly related to Sun Art and Youku. Alibaba's income from operations increased by 13%, and the company continues to invest in user base, technology, and innovative business models. Strategic investments and acquisitions remain a key part of Alibaba's growth strategy.