We delivered a solid quarter despite softer demand, supply chain and logistics disruptions due to impact of changes in COVID-19 measures," said Daniel Zhang, Chairman and CEO of Alibaba Group. "Looking ahead, we expect continued recovery in consumer sentiment and economic activity. We are focused on driving growth for our customers amid the competitive landscape, and creating sustainable, long-term value for our shareholders." "During the past quarter, we continued to improve operating efficiency and cost optimization that resulted in robust profit growth," said Toby Xu, CFO of Alibaba Group. "Our net cash position remains strong and we continue to generate healthy cash flow. During the quarter ended December 31, 2022, we repurchased 45.4 million ADSs for approximately $3.3 billion under our share repurchase program as part of our ongoing commitment to improve our shareholder return."
Published first on TheFly
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