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Benzinga

Benzinga

Alibaba Q1 Earnings: Revenue Miss Amid Price War, Profit Beat, International Commerce and Cloud Segments Shine

Benzinga
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81% Informative

Jack Ma co-founded e-commerce giant reported fiscal first-quarter 2024 revenue growth of 4% year-on-year to $33.47 billion .

Net income plunged 29% Y/Y to $3.34 billion , adjusted net income declined 9% to $5.6 billion .

Taobao and Tmall Group revenue declined by 1% year over year to $15.60 billion .

Alibaba International Digital Commerce Group revenue increased by 32% year .