Summary by Moomoo AI
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