Alibaba First-Quarter Adjusted Net Profit Falls 38% to RMB 20.715 Billion
Alibaba Group reported first-quarter results for the period ended June 30, with adjusted net profit of RMB 20.715 billion, down 38% year-on-year. Net profit attributable to shareholders declined 75% to RMB 10.537 billion amid continued investment and competitive pressures. Revenue rose 9% to RMB 268.953 billion, reflecting resilient growth in its core commerce and cloud businesses during the quarter.
Alibaba Group announced results for its first fiscal quarter ended June 30. Adjusted net profit for the period was RMB 20.715 billion, down 38% year-on-year, while net profit attributable to shareholders stood at RMB 10.537 billion, a decline of 75%. Revenue for the first quarter reached RMB 268.953 billion, up 9% compared with the same period last year.