Alibaba Group (BABA) has released an update.
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Alibaba Group has reported a revenue increase of 7% year-over-year for the March quarter of 2024, signaling a return to growth with double-digit GMV growth in its China and international commerce businesses. Despite a decrease in net income due to investment-related losses, the company remains optimistic with strategic investments paying off, including a $12.5 billion share repurchase and a $4.0 billion dividend for fiscal year 2024. Alibaba also highlighted strong growth in its cloud computing revenues, driven by AI products and a commitment to further enhance user experience and cloud adoption.
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