Alibaba has reported its quarterly performance for the month of June, with a total revenue increase of 4% from the same period last year, totaling 2.43 trillion yuan. The net profit stood at 240 billion yuan.
Eddie Wu, CEO of Alibaba Group, stated that the operational results reflect the company’s strategy of focusing on quality products and services at attractive prices. This has enabled Taobao and Tmall to maintain market share and grow. The cloud business has also shown promising growth in revenue, driven by both public cloud and AI services.
Highlights of Alibaba’s business groups include a 6% revenue increase in the cloud group, a 32% increase in international ecommerce, a 16% increase in Cainiao logistics, and a 12% increase in domestic service businesses (Amap and Ele.me).
Source: Alibaba
TLDR: Alibaba reported a 4% revenue increase and 240 billion yuan net profit in the June quarter. CEO Eddie Wu highlighted the success of the company’s focus on quality products and services at competitive prices, leading to growth across various business segments.
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