Alibaba Financial Report: Alibaba's revenue in Q1 of fiscal year 2024 was 234.156 billion yuan, a year-on-year increase of 14%

Recently, Alibaba released its first quarter financial report for fiscal year 2024 ending June 30, 2023.

The financial report shows that Alibaba's revenue in the first quarter was 234.156 billion yuan, a year-on-year increase of 14%, and its net profit was 33.00 billion yuan, a year-on-year increase of 63%.

This is also the first financial report of Taobao and Tmall Group after independent operation. The financial report shows that Taobao and Tmall Group's revenue is 114.953 billion yuan, a year-on-year increase of 12%.

Taobao's daily active users (DAU) increased by 6.5% year-on-year, and has been growing rapidly for five consecutive months. According to a report by third-party agency Questmobile, Taobao's average DAU in June reached 402 million, and MAU reached 877 million, ranking first among e-commerce platforms , with its leading advantage expanding to 250 million.

On March 28 this year, Alibaba announced the launch of the "1+6+N" organizational transformation. Under the Alibaba Group, six major business groups and multiple business companies will be established, including Alibaba Cloud Intelligence, Taobao Tmall Business, Local Life, Cainiao, International Digital Business, and Big Entertainment.

In May this year, Alibaba founder Jack Ma convened a small-scale communication meeting with the heads of Taobao Group's various businesses. At the meeting, Jack Ma pointed out three future directions for Taobao and Tmall: return to Taobao, return to users, and return to the Internet.

Zikuai Technology