Want to see BABA full AI Analyst Report?
Revenue by Segment
Breaks down sales across Alibaba’s various business areas, revealing which segments are contributing most to growth and where there might be potential risks or opportunities.Cloud is the standout growth engine — steady, accelerating quarter-to-quarter and increasingly AI‑driven, turning into a higher‑margin revenue stream per management’s guidance (AI products ~30% of cloud now, >50% within a year). International Commerce shows durable, above‑market expansion, diversifying revenue outside China. Taobao/Tmall and Local Consumer Services remain seasonal and slower-growing, with profitability hit by deliberate investments (quick commerce and UX). Note sharp 2023–2025 segment reclassifications that distort headline comparisons—focus on cloud/AI momentum and near‑term margin/cash trade‑offs.
Date | Cloud | Taobao and Tmall Group | International Commerce | Local Consumer Services | Cainiao | Commerce | Digital Media and Entertainment | Innovation Initiatives and Other | China E-commerce Group | All others | Unallocated | Inter-segment elimination | E-commerce Group | AI Cloud and Compute Services | AI Labs and Applications |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun 30, 2026 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥28.80B | ¥783.00M | -¥18.27B | ¥205.86B | ¥48.44B | ¥3.34B |
Mar 31, 2026 | ¥41.63B | ¥0.00 | ¥35.43B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥122.22B | ¥65.46B | ¥641.00M | -¥22.00B | ¥0.00 | ¥0.00 | ¥0.00 |
Dec 31, 2025 | ¥43.28B | ¥0.00 | ¥39.20B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥159.35B | ¥67.34B | ¥603.00M | -¥24.93B | ¥0.00 | ¥0.00 | ¥0.00 |
Sep 30, 2025 | ¥39.82B | ¥0.00 | ¥34.80B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥132.58B | ¥62.97B | ¥577.00M | -¥22.95B | ¥0.00 | ¥0.00 | ¥0.00 |
Jun 30, 2025 | ¥33.40B | ¥0.00 | ¥34.74B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥140.07B | ¥58.60B | ¥519.00M | -¥19.68B | ¥0.00 | ¥0.00 | ¥0.00 |
Mar 31, 2025 | ¥30.13B | ¥101.37B | ¥33.58B | ¥16.13B | ¥21.57B | ¥0.00 | ¥5.55B | ¥54.43B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 |
Dec 31, 2024 | ¥31.74B | ¥136.09B | ¥37.76B | ¥16.99B | ¥28.24B | ¥0.00 | ¥5.44B | ¥53.10B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 |
Sep 30, 2024 | ¥29.61B | ¥98.99B | ¥31.67B | ¥17.73B | ¥24.65B | ¥0.00 | ¥5.69B | ¥52.18B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 |
Jun 30, 2024 | ¥26.55B | ¥113.37B | ¥29.29B | ¥16.23B | ¥26.81B | ¥0.00 | ¥5.58B | ¥47.00B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 |
Mar 31, 2024 | ¥25.59B | ¥93.22B | ¥27.45B | ¥14.63B | ¥24.56B | ¥0.00 | ¥4.95B | ¥51.85B | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 | ¥0.00 |