5/18, 1:07 PM (Source: TeleTrader)
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Alibaba's Q4 revenue grows by 2% to $30.3B

Alibaba Group Holding Ltd. said in its earnings report for the fourth quarter of fiscal 2023 that its revenue increased by 2% annually to $30.3 billion or 208.2 billion yuan. The company saw a net income of $3.2 billion (22 billion yuan) compared to a loss of $2.56 billion in the fourth quarter of 2022. Diluted earnings per share (EPS) stood at $0.16 (1.12 yuan), up from a loss per share of $0.12 a year ago.

Full-year 2023 revenue rose by 2% compared to 2022, landing at $126.5 billion (868.7 billion yuan). Net income jumped 39% year-on-year to $9.5 billion (65.6 billion yuan), while the diluted EPS was $0.50 (3.43 yuan), up 21% annually.

Alibaba's shares fell by 1.85% premarket on Wall Street after the earnings release.

Baha Breaking News (BBN) / DJ