Alibaba Group Holding Limited (NYSE:BABA) experienced a slight dip in its stock price on Thursday. The company released its fiscal first-quarter 2024 earnings report.
Revenue Miss and Profit Beat: For the first quarter, Alibaba reported a 4% year-over-year increase in revenue, reaching $33.47 billion. However, this figure fell short of analysts' expectations, who had anticipated revenue of $34.81 billion. Despite the revenue miss, Alibaba managed to beat earnings expectations, with adjusted earnings per American Depositary Share (ADS) coming in at $2.26, surpassing the consensus estimate of $2.13. Additionally, adjusted net income decreased by 9% to $5.6 billion.
Segment Performance: Alibaba's various business segments delivered mixed results in the quarter:
Taobao and Tmall Group: The company's core domestic e-commerce platforms saw a 1% decline in revenue, bringing in $15.60 billion.
International Digital Commerce: Alibaba's international commerce business saw a 32% year-over-year increase in revenue, reaching $4.03 billion. This growth was driven by the expansion of platforms like AliExpress in global markets.
Cloud Intelligence Group: The cloud segment posted a 6% revenue growth to $3.65 billion, buoyed by the increasing adoption of public cloud services and AI-related products. Alibaba's cloud business continues to be a key focus area as the company aims to leverage its technological capabilities to drive future growth.
Local Services Group: Revenue from local services, including Ele.me and Amap, grew by 12% year-over-year to $2.23 billion.
Cainiao Smart Logistics Network: This logistics arm recorded a 16% revenue increase to $3.69 billion, primarily due to cross-border fulfillment services.
What Else: Alibaba's leadership, including CEO Eddie Wu, emphasized their focus on enhancing user experience and maintaining market leadership, particularly in the cloud business.
BABA Price Action: Alibaba shares were up by 0.38% at $79.17 according to Benzinga Pro.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
その他：アリババのCEOであるエディ・ウーを含むリーダーシップは、特にクラウドビジネスで市場リーダーシップを維持し、ユーザーエクスペリエンスを改善することに焦点を当てていることを強調しました。 
