Alibaba Group Holding Limited (NYSE: BABA) Shares will act higher on Thursday after the company’s tax report in the third quarter.
The Jack Ma is co-founder of e-commerce giant reported tax-third quarter 2024 revenue growth from 8% on an annual basis to $ 38.38 billion, which defeated the estimate of the analysts of $ 38.19 billion. Custom income per $ 2.93 advertisements beat the estimate of the consensus of the $ 2.66 analysts. The adjusted net result rose by 7% J/J to $ 7 billion.
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Segments: The turnover from Taobao and Tmall Group grew year by year by 5% to $ 18.64 billion. The turnover of Alibaba International Digital Commerce Group increased year after year by 32% to $ 5.17 billion, powered by the growth of cross -border companies.
The turnover of the local services grew year by year by 12% to $ 2.33 billion, driven by the order growth of Amap and Ele.me and sales growth of marketing services.
The turnover of Cainiao Smart Logistics Network Limited fell by 1% year to year to $ 3.87 billion due to continuous restructuring with its e-commerce companies that take on specific logistics platform rolls.
The turnover of the cloud intelligence group grew by 13% J/Y to $ 4.35 billion.
Digital media and entertainment group rose by 8% Y/J to $ 745 million. All other sales grew by 13% J/Y with $ 7.28 billion.
In the Taobao and Tmall Group, the turnover of customer management year after year grew with 9% due to the growth of online GMV and improving the take rate.
The turnover from the Chinese retail activities of the trade grew year on year by 5% to $ 17.74 billion, while the direct turnover and other sales decreased year on year by 9% to $ 3.94 billion, mainly due to our planned Reduction of certain direct sales companies.
The turnover from the Chinese wholesale activities grew year by year by 24% to $ 901 million due to the increase in income from services with added value to paying members.
Alibaba International Digital Commerce Group: International trade revenue of the trade grew year by year by 36% to $ 4.32 billion, mainly driven by the increase in income that was contributed by Aliexpress’ Choice And trendyol. International Commerce Wholesale Business Revenue grew by 18% Y/J to $ 850 million.
Cloud Intelligence Group: The total turnover, excluding subsidiaries consolidated by Alibaba, increased by 11% J/J, which was mainly powered by the double figures income growth of public cloud products, including AI-related products. Alibaba recently launched his first cloud region in Mexico.
As of December 31, 2024, Alibaba kept $ 83.58 billion in cash and equivalents and generated an operational cash flow of $ 9.72 billion, an increase of 10% years after year.
