BABA-W (09988) has announced its interim financial results, with a net profit attributable to ordinary shareholders of 68.143 billion yuan, an increase of 9.84% year-on-year.

BABA-W (09988) announced its interim results for the six months ended September 30, 2024, with the group achieving revenue of RMB 479.739 billion, a year-on-year increase of 4.53%; net profit of RMB 64.569 billion, a year-on-year increase of 13.19%; net profit attributable to Alibaba Group shareholders of RMB 68.423 billion, a year-on-year increase of 10.20%; net profit attributable to ordinary shareholders of RMB 68.143 billion, a year-on-year increase of 9.84%; and basic earnings per share of RMB 3.58. In the six months ended September 30, 2024, revenue from China Retail businesses was RMB 200.429 billion (USD 28.561 billion), a 1% decrease from the same period in 2023, mainly due to an 8% decline in direct and other revenue. Customer management revenue increased by 1% year-on-year, primarily driven by growth in online GMV, partially offset by a decrease in Take rate. The decrease in Take rate was mainly due to the increasing proportion of GMV generated by new emerging models with lower realization rates within the Taotian Group. In the six months ended September 30, 2024, direct and other revenue for China Retail businesses was RMB 49.950 billion (USD 7.118 billion), an 8% decrease from the same period in 2023, mainly due to lower sales of appliances and consumer electronics categories. In the six months ended September 30, 2024, revenue from China Wholesale businesses was RMB 11.938 billion (USD 1.701 billion), a 17% increase from the same period in 2023, mainly driven by an increase in value-added service revenue provided to paid members. In the six months ended September 30, 2024, revenue from Cloud Intelligence Group was RMB 56.159 billion (USD 8.003 billion), a 7% increase from the same period in 2023, driven mainly by a double-digit growth in revenue from public cloud products, including AI-related products, offset in part by a decrease in non-public cloud revenue due to the group's focus on high-quality revenue and reduction of lower-margin project-based contract revenue. In the six months ended September 30, 2024, revenue from International Retail businesses was RMB 49.309 billion (USD 7.026 billion), a 37% increase from the same period in 2023, primarily driven by growth in revenue from AliExpress Choice and Trendyol. The revenue of several international business units of the group is denominated in local currencies, while the reporting currency of the group is RMB, leading to an impact from exchange rate fluctuations on Alibaba International Digital Commerce Group's revenue. In the six months ended September 30, 2024, revenue from Cainiao Group was RMB 51.458 billion (USD 7.333 billion), a 12% increase from the same period in 2023, mainly driven by growth in cross-border logistics fulfillment solution revenue.