Alibaba's quarterly revenues surge by 9 percent

In the quarter ended September 30, 2023, Alibaba reported revenue of 224,790 million Chinese yuan (30,810 million dollars), an increase of 9 percent year-over-year.

The company’s income from operations was 33,584 million Chinese yuan (4,603 million dollars), an increase of 34 percent, while adjusted EBITDA increased 18 percent to 42,845 million Chinese yuan (5,872 million dollars).

“Alibaba Group delivered a solid quarter, marked by renewed momentum and energy across multiple businesses as a result of our strategic reorganisation. As we embark on a new phase of development, we have clearly defined our strategic focus and priorities. We are committed to investing for growth and making bold decisions where necessary,” said Eddie Wu, CEO of Alibaba Group.

The company said net income attributable to ordinary shareholders was 27,706 million Chinese yuan (3,797 million dollars), while net income was 26,696 million Chinese yuan (3,659 million dollars). Non-GAAP net income for the quarter was 40,188 million Chinese yuan (5,508 million dollars), an increase of 19 percent.

Alibaba recorded diluted earnings per ADS of 10.77 Chinese yuan (1.48 dollars) and diluted earnings per share was 1.35 Chinese yuan (19 cents or 1.47 Hong Kong dollars).

Non-GAAP diluted earnings per ADS was 15.63 Chinese yuan (2.14 dollars), an increase of 21 percent and non-GAAP diluted earnings per share was 1.95 Chinese yuan (27 cents or 2.13 Hong Kong dollars), an increase of 21 percent.