Wednesday, April 17, 2024

Alibaba Group Quarterly Earnings Highlights

Alibaba Group recently announced that its third-quarter revenue rose 10 percent year-over-year and consumers in its ecosystem swelled to 1.28 billion globally.

Budding businesses, including value-for-money app Taobao Deals and community marketplace business Taocaicai, gathered momentum. Their operating losses are set to shrink in coming months, showing Alibaba’s investment initiatives are bearing fruit.

The e-commerce giant’s annual active consumers (AACs) inside China climbed to 979 million and outside China to 301 million, quarterly net increases of over 26 million and 16 million, respectively.


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