Alibaba Group Holding Restricted (NYSE: BABA) Tuesday introduced fourth-quarter 2024 monetary outcomes, reporting greater revenues and a decline in earnings.
Revenues of the China-based e-commerce big elevated 7% yearly to $30.7 billion within the March quarter, reflecting robust efficiency by all the important thing working segments.
In the meantime, adjusted earnings decreased 5% from final 12 months to $1.40 per ADS within the fourth quarter. Unadjusted internet revenue 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,” mentioned Eddie Wu, CEO of Alibaba Group.
