Alibaba Fiscal 2024 Revenue Climbs 8%, Exceeds Expectations

Explore Alibaba’s robust 8% revenue growth in FY2024, with key financial highlights and strategic expansions across global markets.

Alibaba’s Revenue in Fiscal Year 2024 Totals RMB 9411.7 Billion, Up 8% Year-over-Year

Alibaba announced its financial results for the fourth quarter and the full fiscal year of 2024 on May 14th. In the fourth quarter, Alibaba reported a revenue of RMB 2218.7 billion, a 7% increase year-over-year, slightly above the market expectations of RMB 2198 billion. However, its adjusted EBITDA decreased by 4.1% to RMB 308.1 billion.

For the fiscal year ending in March 2024, Alibaba’s total revenue reached RMB 9411.7 billion, marking an 8% growth compared to the previous year.

Alibaba declared a dividend distribution of approximately USD 4 billion for the fiscal year 2024, continuing its share buyback program. In the fourth quarter alone, the company repurchased USD 4.8 billion worth of its common stock, totaling USD 12.5 billion (approximately RMB 905 billion) for the fiscal year, thereby enhancing shareholder returns.

The company emphasized that it is back on a trajectory of healthy growth. Key highlights include double-digit growth in GMV from its Tao Tian online platform, double-digit revenue growth from core Alibaba Cloud public cloud products, and a triple-digit year-over-year increase in AI-related revenue.

Additionally, its international e-commerce revenue saw a strong 45% increase compared to the previous year.

These results demonstrate the effectiveness of Alibaba’s strategy focusing on “user first, AI-driven” initiatives and its commitment to core business investments, setting a positive outlook for the future.

Keep visiting for more such awesome posts, internet tips, lifestyle tips, and remember we cover,
“Everything under the Sun!”

inspire2rise 2024 refresh

Follow Inspire2rise on Twitter. | Follow Inspire2rise on Facebook. | Follow Inspire2rise on YouTube

Learn more about  Microsoft Forza MotorSport 8 to Be Released on October 10

I am a SAP consultant. An IT engineer from New Delhi, I love social media and insights into human behaviour and why people do what they do!

Alibaba Fiscal 2024 Revenue Climbs 8%, Exceeds Expectations

Leave a Comment

Discover more from Inspire2Rise

Subscribe now to keep reading and get access to the full archive.

Continue reading