Alibaba's revenue increased by 7% year-on-year, with the pre-market stock price plunging before narrowing the decline

LB Select
2024.05.14 10:39
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Alibaba announced its quarterly performance ending on March 31, 2024 (the fourth quarter of the 2024 fiscal year): total revenue of RMB 221.874 billion, a year-on-year increase of 7%, estimated at RMB 219.79 billion; adjusted net profit of RMB 24.418 billion, a year-on-year decrease of 11%; adjusted earnings per ADS for the fourth quarter were RMB 10.14, a year-on-year decrease of 5%

Alibaba announced its quarterly performance for the period ending March 31, 2024 (fourth quarter of the 2024 fiscal year):

  • Total revenue of RMB 221.874 billion, a year-on-year increase of 7%, estimated at RMB 219.79 billion;
  • Adjusted net profit of RMB 24.418 billion, a year-on-year decrease of 11%;
  • Adjusted earnings per ADS for the fourth quarter were RMB 10.14, a year-on-year decrease of 5%.

After the performance announcement, the stock fell more than 5% in pre-market trading, but later narrowed to a decline of 2.48%:

In terms of business segments, international retail business saw the fastest growth, with a year-on-year growth rate of 56%:

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