2024-08-15 20:01Revenue and Income - Revenue for the quarter ended June 30, 2024, was RMB243,236 million (US$33,470 million), an increase of 4% year-over-year[5] - Net income attributable to ordinary shareholders was RMB24,269 million (US$3,340 million), a decrease of 29% year-over-year[24] - Revenue from Cloud Intelligence Group grew 6% year-over-year to RMB26,549 million (US$3,653 million)[11] - Revenue from Alibaba International Digital Commerce Group grew 32% year-over-year to RMB29,293 million (US$4,031 million)[16] - Revenue from the China commerce retail business decreased by 2% year-over-year to RMB107,421 million (US$14,782 million) in the quarter ended June 30, 2024[31] - Revenue from the International commerce retail business rose by 38% to RMB23,691 million (US$3,260 million), driven by order growth from AliExpress[39] - Revenue from Cainiao Smart Logistics Network Limited increased by 16% to RMB26,811 million (US$3,689 million), primarily from cross-border fulfillment solutions[42] - Local Services Group revenue grew by 12% to RMB16,229 million (US$2,233 million), supported by order growth from Amap and Ele.me[44] - Net income for the quarter was RMB24,022 million (US$3,306 million), down from RMB33,000 million in the same quarter of 2023[67] - Non-GAAP net income decreased by 9% to RMB40,691 million (US$5,599 million) compared to RMB44,922 million in the same quarter of 2023[68] Expenses and Costs - Total costs and expenses increased to RMB207,247 million (US$28,518 million), with cost of revenue at RMB146,106 million (US$20,105 million), representing 60.1% of revenue[51] - Product development expenses rose to RMB13,373 million (US$1,840 million), accounting for 5.5% of revenue, up from 4.5% in the same quarter of 2023[52] - Sales and marketing expenses for the quarter ended June 30, 2024, were RMB32,696 million (US$4,499 million), representing 13.4% of revenue, up from 11.6% in the same quarter of 2023[53] - General and administrative expenses increased to RMB13,280 million (US$1,827 million), or 5.5% of revenue, compared to 3.1% in the same quarter of 2023, primarily due to a one-time provision for shareholder lawsuits of RMB3,145 million (US$433 million)[54] - The company reported an increase in income tax expenses from RMB 6,022 million in Q2 2023 to RMB 10,063 million in Q2 2024, an increase of 67.1%[100] Cash Flow and Investments - Free cash flow decreased by 56% year-over-year to RMB17,372 million (US$2,390 million)[5] - Net cash provided by operating activities was RMB33,636 million (US$4,628 million), a decrease of 26% compared to RMB45,306 million in the same quarter of 2023[74] - Net cash used in investing activities was RMB35,829 million (US$4,930 million), primarily reflecting an increase in other treasury investments and capital expenditures[75] - Cash and cash equivalents, short-term investments, and other treasury investments totaled RMB613,678 million (US$84,445 million) as of June 30, 2024, a slight decrease from RMB617,230 million as of March 31, 2024[73] - Cash and cash equivalents decreased to RMB 219,167 million (US$ 30,158 million) from RMB 248,125 million as of March 31, 2024[97] - Cash and cash equivalents at the end of the period slightly decreased from RMB 267,094 million in Q2 2023 to RMB 265,308 million in Q2 2024[99] Shareholder Actions and Market Performance - During the quarter, Alibaba repurchased a total of 613 million ordinary shares for US$5.8 billion[22] - The successful 6.18 Shopping Festival contributed to high-single-digit online GMV growth year-over-year[9] - The company plans to convert to a primary listing in Hong Kong, which is part of its strategic initiatives[83] - The company is focused on expanding its international and cross-border businesses as part of its growth strategy[83] Employee and Operational Metrics - Total employees decreased to 198,162 as of June 30, 2024, down from 204,891 as of March 31, 2024[77] - Adjusted EBITA decreased 1% year-over-year to RMB45,035 million (US$6,197 million) with an adjusted EBITA margin of 19%[5] - Adjusted EBITA for Cloud Intelligence Group surged by 155% to RMB2,337 million (US$322 million) due to improved product mix and operating efficiency[38] - Adjusted EBITDA decreased by 2% year-over-year to RMB51,161 million (US$7,040 million) in the quarter ended June 30, 2024[60] - Adjusted EBITDA for the three months ended June 30, 2024, was not explicitly stated but is a key non-GAAP measure used to assess underlying business trends[84] - Adjusted EBITA from All others segment improved to a loss of RMB1,263 million (US$174 million), compared to a loss of RMB1,733 million in the same quarter of 2023[49] Earnings Per Share - The company reported a basic earnings per share of RMB 1.26 (US$ 0.17) for the three months ended June 30, 2024, down from RMB 1.68 in the same period of 2023[95] - Diluted earnings per share fell from RMB 1.66 in Q2 2023 to RMB 1.24 in Q2 2024, a decrease of 25.4%[103] - Non-GAAP diluted earnings per share decreased from RMB 2.17 in Q2 2023 to RMB 2.05 in Q2 2024, a decline of 5.5%[103]