Alibaba reported its performance for the quarter ending in March, with a 7% increase in revenue reaching 2.22 trillion yuan and a net profit of 327 billion yuan. CEO Eddie Wu highlighted the growth in e-commerce business in China and abroad, with Gross Merchandise Volume (GMV) reaching new highs in the billions. The number of customers and cloud revenue saw significant growth driven by AI products. Alibaba remains focused on executing its plans to seize new opportunities and drive further growth.
Revenue from Taobao and Tmall Group increased by 4% to 93.216 billion yuan, cloud group revenue grew by 3% to 25.595 billion yuan, international e-commerce group revenue surged by 45% to 27.448 billion yuan, and Cainiao logistics group revenue rose by 30% to 24.557 billion yuan.
TLDR: Alibaba’s revenue and profit increased in the last quarter, driven by growth in e-commerce, cloud services, and international businesses.
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