Alibaba Group Announces Quarterly Results for Fiscal Year June 2023… “Standing Level from the Same Period Last Year”

Alibaba Group has announced its results for the first quarter of fiscal 2023, which ended on June 30, 2022.
ⓒ Alibaba Group

In the first quarter of fiscal 2023, the group’s sales were 205.555 billion yuan (about 39.66 trillion won), which was flat compared to the same period of the previous year. This was 141.935 billion yuan (about 27,387.8 billion won) in retail commerce sales in China, down 1% year-on-year, and 17.685 billion yuan (about 3,412.5 billion won) sales in the cloud sector, up 10% from the previous year. They are the result of offsetting each other.

“During the first quarter, we focused on long-term strategies such as creating value for customers by actively responding to changes in the macro-environment during the first quarter,” said Chang Yong, chairman of Alibaba Group. However, as we entered June, we were able to achieve good results.”

Operating profit for the quarter was 24.94 billion yuan (about 4,8130 won), a decrease of 19% compared to the same period of the previous year. Adjusted non-GAAP financial indicators (EBITA) recorded 34.419 billion yuan (about 6.64 trillion won), down 18% from the same period of the previous year.

The net income attributable to common stock was 22.739 billion yuan (about 4.387.7 trillion won), and the net profit for the year was 20.2298 billion yuan (about 3.916.7 billion won). Non-GAAP net income for the year was RMB30.25 billion (about KRW 5,837.4 billion), down 30% from the same period last year, mainly due to the decrease in the proportion of earnings of adjusted EBITA and equity method investees.

Commerce platforms Taobao and Tmall showed high retention of loyal customers and recovery of sales despite the economic downturn caused by COVID-19. At the end of May, when the logistics situation was normalized and during the Tmall 618 Shopping Festival (Tmall 618), Alibaba Group’s GMV (total product sales) grew from the same period of the previous year, with sales of 141.935 billion yuan (27,389.1 billion won). recorded There were approximately 123 million active users who spent over RMB 10,000 (about KRW 1.92 million) on Taobao and Tmall in the 12 months until June 30, 2022, and per capita of 25 million 88 VIP paid membership members in the quarter. The average annual consumption was 56,000 yuan (about 10.81 million won).

The digital media and entertainment sector generated sales of 7.23 billion yuan in the quarter. In this quarter, Youku’s average daily paying subscribers increased 15% year-over-year, driven by quality content and continued contributions from its 88 VIP membership program. With prudent investments in content and production capacity, Youku continued to improve operational efficiencies, reducing losses for the fifth consecutive quarter.

Alibaba Cloud’s quarterly revenue was 17.68 billion yuan, up 10% year-on-year. Alibaba Cloud has launched a self-developed CIPU (Cloud Infrastructure Processing Unit) designed specifically for data centers, and has improved the performance of network, storage, security and computing functions, etc. In addition, in a situation where telecommuting or hybrid work methods are common after the re-spread of COVID-19 in China, companies, schools, and institutions are providing Dingtalk, a collaboration tool, and Alibaba Cloud aims to enhance long-term customer value.
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Source: ITWorld Korea by www.itworld.co.kr.

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