Workflow
BABA(BABA) - 2025 Q3 - Quarterly Results
BABABABA(BABA)2025-02-20 13:09
Transcript

Revenue Performance - Revenue for the quarter ended December 31, 2024, was RMB280,154 million (US38,381million),anincreaseof838,381 million), an increase of 8% year-over-year[5] - Total consolidated revenue for the quarter ended December 31, 2024, was RMB280,154 million (US38,381 million), representing an 8% year-over-year increase from RMB260,348 million[6] - Revenue from the Taobao and Tmall Group increased by 5% year-over-year to RMB136,091 million (US18,644million)inthequarterendedDecember31,2024[6]−RevenuefromAlibabaInternationalDigitalCommerceGroupsurgedby3218,644 million) in the quarter ended December 31, 2024[6] - Revenue from Alibaba International Digital Commerce Group surged by 32% year-over-year to RMB37,756 million (US5,173 million) in the same quarter[6] - Revenue from the China commerce wholesale business grew by 24% year-over-year to RMB6,575 million (US901million)inthequarterendedDecember31,2024[36]−CustomermanagementrevenueatTaobaoandTmallGroupgrew9901 million) in the quarter ended December 31, 2024[36] - Customer management revenue at Taobao and Tmall Group grew 9% year-over-year to RMB100,790 million (US13,808 million)[7] - Revenue from Alibaba International Digital Commerce Group (AIDC) grew 32% year-over-year to RMB37,756 million (US5,173million)[11]−CloudIntelligenceGrouprevenueincreasedby135,173 million)[11] - Cloud Intelligence Group revenue increased by 13% year-over-year to RMB31,742 million (US4,349 million)[13] - Revenue from Local Services Group grew 12% year-over-year to RMB16,988 million (US2,327million)[18]−TheDigitalMediaandEntertainmentGroup′srevenueincreasedby82,327 million)[18] - The Digital Media and Entertainment Group's revenue increased by 8% year-over-year to RMB5,438 million (US745 million) in the quarter ended December 31, 2024[47] Income and Profitability - Net income attributable to ordinary shareholders was RMB48,945 million (US6,705million),reflectinga2396,705 million), reflecting a 239% year-over-year increase[26] - Income from operations increased by 83% year-over-year to RMB41,205 million (US5,645 million), primarily due to a decrease in impairment of intangible assets[5] - Adjusted EBITA for the Taobao and Tmall Group rose by 2% to RMB61,083 million (US8,368million)comparedtoRMB59,930millioninthesamequarterof2023[32]−AdjustedEBITDAincreased48,368 million) compared to RMB59,930 million in the same quarter of 2023[32] - Adjusted EBITDA increased 4% year-over-year to RMB62,054 million (US8,501 million) in Q4 2024, while adjusted EBITA also rose 4% to RMB54,853 million (US7,515million)[65]−NetincomeforQ42024wasRMB46,434million(US7,515 million)[65] - Net income for Q4 2024 was RMB46,434 million (US6,361 million), significantly up from RMB10,717 million in Q4 2023[72] - Non-GAAP net income increased 6% to RMB51,066 million (US6,996million)inQ42024,comparedtoRMB47,951millioninQ42023[73]−ThetotalnetincomeattributabletoordinaryshareholdersfortheninemonthsendedDecember31,2024,wasRMB117,088million,upfromRMB76,471millioninthepreviousyear[111]CashFlowandInvestments−Freecashflowdecreasedby316,996 million) in Q4 2024, compared to RMB47,951 million in Q4 2023[73] - The total net income attributable to ordinary shareholders for the nine months ended December 31, 2024, was RMB 117,088 million, up from RMB 76,471 million in the previous year[111] Cash Flow and Investments - Free cash flow decreased by 31% year-over-year to RMB39,020 million (US5,346 million) due to increased expenditures in cloud infrastructure[6] - Net cash provided by operating activities was RMB70,915 million (US9,715million),a109,715 million), a 10% increase from RMB64,716 million in Q4 2023[79] - Free cash flow for the nine months ended December 31, 2024, was RMB 76,471 million, compared to RMB 70,413 million in the same period of 2023, indicating a 8.8% increase[100] - The company reported a net cash used in investing activities of RMB 145,868 million for the nine months ended December 31, 2024, compared to RMB 42,091 million for the same period in 2023[105] Expenses - Total costs and expenses for the quarter were RMB238,945 million (US32,735 million), with cost of revenue accounting for 58.0% of total revenue, down from 60.0% in the same quarter of 2023[52][53] - Sales and marketing expenses increased to RMB42,675 million (US5,846million),or15.25,846 million), or 15.2% of revenue, up from RMB33,783 million (13.0% of revenue) in Q4 2023, driven by higher investments in e-commerce[56] - General and administrative expenses decreased to RMB10,851 million (US1,487 million), or 3.9% of revenue, down from RMB11,261 million (4.3% of revenue) in Q4 2023[57] - Product development expenses for Q4 2024 were RMB14,662 million (US2,009million),maintaining5.22,009 million), maintaining 5.2% of revenue, compared to RMB13,488 million in Q4 2023[55] Shareholder Actions - The company repurchased 119 million ordinary shares for a total of US1.3 billion during the quarter[23] - The weighted average number of diluted shares decreased from 20,485 million in 2023 to 19,372 million in 2024[111] Assets and Liabilities - Cash and cash equivalents, short-term investments, and other treasury investments totaled RMB610,041 million (US83,575million)asofDecember31,2024,downfromRMB617,230millionasofMarch31,2024[78]−TotalcurrentliabilitiesdecreasedtoRMB421,507millionasofMarch31,2024,fromRMB457,359millionasofDecember31,2023,areductionof7.883,575 million) as of December 31, 2024, down from RMB617,230 million as of March 31, 2024[78] - Total current liabilities decreased to RMB 421,507 million as of March 31, 2024, from RMB 457,359 million as of December 31, 2023, a reduction of 7.8%[103] - Total assets as of March 31, 2024, were RMB 1,764,829 million, a decrease of 4.8% from RMB 1,854,964 million as of December 31, 2023[101] Earnings Per Share - The diluted earnings per ADS for the three months ended December 31, 2024, was US 6.62, compared to US$ 2.79 in the same period of 2023, marking an increase of 137.2%[100] - Non-GAAP diluted earnings per share for the nine months ended December 31, 2024, was RMB 6.61, compared to RMB 6.50 for the same period in 2023[111]