On May 14, Alibaba announced its financial report showing that the group's revenue in the fourth quarter of fiscal year 2024 (the three months ending March 2024) was 221.87 billion yuan, an increase of 6.6% year-on-year, exceeding the market estimate of 219.79 billion yuan. Adjusted EBITDA was RMB30.81 billion, down 4.1% year-on-year to an estimated RMB30.38 billion, and adjusted net profit was RMB24.42 billion, down 11% year-on-year. Adjusted earnings per ADS were RMB10.14, compared to RMB10.71 in the same period last year.
At the same time, Alibaba's net profit attributable to ordinary shareholders in the fourth quarter was 3.27 billion yuan, down 86% year-on-year; net profit was 919 million yuan, down 96% year-on-year. Alibaba said this was mainly due to a net loss on mark-to-market changes in its equity investments in listed companies, compared with net income in the same period last year.
After the earnings report, Alibaba's U.S. stock fell as much as 4% in pre-market trading.
At the same time, Alibaba announced a one-time special cash dividend of $4 billion in fiscal 2024.
E-commerce GMV grew by double digits, and AI revenue grew by triple digits
Ali said that after a year of active reform, Ali has returned to a healthy growth track: double-digit growth in GMV on Taotian, double-digit growth in revenue from Alibaba Cloud's core public cloud products, and strong year-on-year growth of 45% in overseas e-commerce revenue.
In terms of cloud business, Alibaba Cloud's quarterly revenue increased by 3% to RMB25.595 billion, of which revenue from core public cloud products achieved double-digit growth and AI-related cloud products achieved triple-digit growth. At the same time, Alibaba Cloud continued to maintain profitability, with Adjusted EBITA up 45% year-over-year to RMB1.432 billion.
Cainiao's revenue in the fourth quarter was 24.557 billion yuan, a year-on-year increase of 30%. Benefiting from the revenue growth brought by cross-border express fulfillment services, Cainiao's full-year revenue increased by 28% year-on-year to 99.02 billion yuan.
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