Alibaba Group Holding Limited (NYSE: BABA) reported its first quarter 2023 earnings results today.
Revenues remained flat year-over-year at RMB205,555 million, or $30.6 billion.
Net income attributable to ordinary shareholders was RMB22,739 million, or $3.39 billion. Adjusted net income was RMB30,252 million, or $4.51 billion, down 30% year-over-year.
Diluted earnings per ADS was RMB8.51, or $1.27. Adjusted earnings per ADS was RMB11.73, or $1.75, down 29% year-over-year.