Alibaba Group Holding Ltd Revenue & Financials

Alibaba's financial performance in fiscal year 2024 (the twelve months ending March 31, 2024) reflects a company navigating the intersection of domestic competitive pressure, regulatory normalization, and a deliberate transition toward profitability-focused growth after years of revenue-at-any-cost expansion. Total revenues for fiscal year 2024 reached 941.17 billion Chinese yuan — approximately $130 billion USD — representing a 8% increase over the prior year's 868.69 billion yuan. This growth rate, while positive, reflects the cooling of China's domestic e-commerce sector and the intensifying competition from Pinduoduo and ByteDance. The China commerce segment, which contributed approximately 663.39 billion yuan, grew modestly at around 5% year-over-year, constrained by both competitive dynamics and deliberate investments in merchant support programs including fee waivers and subsidies designed to retain merchant loyalty. International commerce was the standout growth story, increasing approximately 45% to 97.32 billion yuan, driven primarily by the rapid expansion of AliExpress's managed fulfillment model and continued strong performance from Trendyol in Turkey. Net income attributable to ordinary shareholders was approximately 71.3 billion yuan ($9.8 billion USD) for fiscal 2024, though this figure includes significant investment gains and impairment charges that make period-to-period comparison complex. Adjusted EBITA — Alibaba's preferred profitability metric, which excludes equity-based compensation, M&A-related items, and amortization — reached approximately 155.3 billion yuan for fiscal 2024, representing a margin of approximately 16.5% on total revenues. Free cash flow generation remained robust at approximately 160 billion yuan, providing substantial capacity for the ongoing $25 billion share buyback program that has been one of management's primary capital allocation tools since 2023. Alibaba's balance sheet as of March 31, 2024 held approximately 437.7 billion yuan ($60 billion USD) in cash, cash equivalents, and short-term investments, giving the company exceptional financial flexibility despite the scale of its capital expenditure commitments in cloud and AI infrastructure.