Alibaba Group Holding Limited (NYSE: BABA) Tuesday announced fourth-quarter 2024 financial results, reporting higher revenues and a decline in earnings.
Revenues of the China-based e-commerce giant increased 7% annually to $30.7 billion in the March quarter, reflecting strong performance by all the key operating segments.
Meanwhile, adjusted earnings decreased 5% from last year to $1.40 per ADS in the fourth quarter. Unadjusted net income was $453 million or $0.18 per ADS, down 86% from the prior-year quarter.
“This quarter’s results demonstrate that our strategies are working and we are returning to growth. Our
China and international commerce businesses realized double-digit year-over-year GMV growth through our
focus on the customer experience,” said Eddie Wu, CEO of Alibaba Group.