Categories AlphaGraphs, Earnings, Retail, Technology

Alibaba Group (BABA) Q1 2024 Earnings: Key financials and quarterly highlights

Alibaba Group Holding Limited (NYSE: BABA) reported first quarter 2024 earnings results today.

Revenue totaled $32.2 billion, up 14% year-over-year.

Net income attributable to ordinary shareholders was $4.7 billion. Adjusted net income was $6.1 billion, up 48% year-over-year.

Diluted earnings per ADS was $1.83. Adjusted earnings per ADS was $2.40, up 48% year-over-year.

Both revenue and earnings beat expectations allowing the stock to gain 3% in premarket hours on Thursday.  

As of June 30, 2023, cash and cash equivalents, short-term investments and other treasury investments included in equity securities and other investments on the consolidated balance sheets, were $80.6 billion.

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