Hangzhou, China, February 7, 2024 – Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988
(HKD Counter) and 89988 (RMB Counter), “Alibaba” or “Alibaba Group”) today announced its financial
results for the quarter ended December 31, 2023.
“We delivered a solid quarter as we are executing our focused strategies across the organization. Our top
priority is to reignite the growth of our core businesses, e-commerce and cloud computing. We will step up
investment to improve users’ core experiences to drive growth in Taobao and Tmall Group and strengthen
market leadership in the coming year. We will also focus our resources on developing public cloud products
and sustaining the strong growth momentum in international commerce business,” said Eddie Wu, Chief
Executive Officer of Alibaba Group.
“Alibaba Group delivered a healthy quarter with revenue growth of 5% year-over-year. We increased our
investment in strategic priorities and improved shareholder return by leveraging our strong balance sheet and
cash flow. Our board of directors approved an increase of US$25 billion to our share repurchase program,
demonstrating our confidence in the outlook of our business and cash flow. Our consistent share repurchase
has also reduced outstanding share count while achieving EPS and cash flow per share accretion,” said Toby
Xu, Chief Financial Officer of Alibaba Group.
BUSINESS HIGHLIGHTS
In the quarter ended December 31, 2023:
• Revenue was RMB260,348 million (US$36,669 million), an increase of 5% year-over-year.
• Income from operations was RMB22,511 million (US$3,171 million), a decrease of 36% yearover-year. The year-over-year decrease was primarily attributable to impairment of intangible assets
of Sun Art and impairment of goodwill of Youku. Adjusted EBITA, a non-GAAP measurement
(excluding share-based compensation expense, impairment of intangible assets and goodwill and
certain other items), increased 2% year-over-year to RMB52,843 million (US$7,443 million).
• Net income attributable to ordinary shareholders was RMB14,433 million (US$2,033 million).
Net income was RMB10,717 million (US$1,509 million), a decrease of 77% or RMB35,029 million
year-over-year, primarily attributable to mark-to-market changes from our equity investments and
the decrease in income from operations due to the impairment as mentioned above. Excluding sharebased compensation expense, gains/losses of investments, impairment of intangible assets and
goodwill, and certain other items, non-GAAP net income in the quarter ended December 31, 2023
was RMB47,951 million (US$6,754 million), a decrease of 4% compared to RMB49,932 million in
the same quarter of 2022.
• Diluted earnings per ADS was RMB5.65 (US$0.80) and diluted earnings per share was
RMB0.71 (US$0.10 or HK$0.78). Non-GAAP diluted earnings per ADS was RMB18.97
(US$2.67), a decrease of 2% year-over-year and non-GAAP diluted earnings per share was RMB2.37 (US$0.33 or HK$2.62), a decrease of 2% year-over-year.

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