Alibaba revenue and financial results statistics & facts

Alibaba revenue at a glance

Alibaba Group generated revenue of RMB1,023.7 billion (US$148.4 billion) in the fiscal year to 31 March 2026, according to its annual results. It was the first time the company passed the RMB1 trillion mark, but growth slowed to 3 percent, the second weakest rate in its history as a listed company. Profits moved in the opposite direction: adjusted EBITA, the profit measure Alibaba uses to judge its businesses, fell 56 percent to RMB76.4 billion, and free cash flow turned negative as the company poured money into quick commerce and artificial intelligence.

This report covers Alibaba revenue since FY2015, its net income, the split by business segment, quarterly results up to the June 2026 quarter, profitability and cash flow. It is a deeper financial companion to our Alibaba statistics and facts overview. Alibaba reports in Chinese yuan (renminbi, RMB); US dollar figures are the convenience translations Alibaba itself gives.

Revenue from FY2015 to FY2026

Alibaba revenue has grown more than thirteenfold in eleven years. The company reported RMB76.2 billion in FY2015, its first full year as a listed company, and passed RMB100 billion in FY2016. Growth then accelerated sharply as Alibaba consolidated acquisitions and expanded into cloud computing, logistics and local services: revenue reached RMB250.3 billion in FY2018, RMB509.7 billion in FY2020 and RMB717.3 billion in FY2021.

Past one trillion: Revenue passed RMB1 trillion for the first time in FY2026, ten times the level of FY2016.

The period of rapid expansion ended in FY2022. Revenue still rose to RMB853.1 billion that year, but growth slowed to 19 percent, and in FY2023 it rose by less than 2 percent to RMB868.7 billion, in a period marked by tighter Chinese regulation of large internet platforms and stronger competition from PDD Holdings and Douyin. Revenue has since grown by between 3 and 8 percent a year, reaching RMB941.2 billion in FY2024, RMB996.3 billion in FY2025 and RMB1,023.7 billion in FY2026.

From 58 percent to 3 percent: Annual growth peaked at 58 percent in FY2018 and has been in single digits since FY2023.

Net income and profitability

Alibaba net income has been far more volatile than its revenue, because it includes large gains and losses on the market value of the companies Alibaba invests in. Net income attributable to ordinary shareholders reached RMB150.3 billion in FY2021, then fell 59 percent to RMB62.0 billion in FY2022. Alibaba said that fall was primarily due to net losses from decreases in the market prices of its equity investments, compared with net gains a year earlier.

A volatile line: Net income has swung between RMB43.7 billion and RMB150.3 billion since FY2017, largely because of investment gains and losses.

Net income attributable recovered to RMB72.5 billion in FY2023, RMB79.7 billion in FY2024 and RMB129.5 billion in FY2025. Alibaba attributed the FY2025 rise mainly to mark-to-market changes in its equity investments and higher income from operations. In FY2026 it fell to RMB105.9 billion, which the company attributed primarily to lower income from operations, partly offset by larger investment gains. The net margin on this measure was 10.3 percent in FY2026, against 13.0 percent in FY2025 and 21.0 percent in FY2021.

Revenue by business segment

In FY2026 Alibaba reported four segments. The Alibaba China E-commerce Group, which includes Taobao, Tmall, quick commerce and the wholesale marketplace 1688.com, was by far the largest, with revenue of RMB554.2 billion, up 9 percent. The Cloud Intelligence Group grew fastest, by 34 percent to RMB158.1 billion. The Alibaba International Digital Commerce Group, which includes AliExpress, Trendyol, Lazada and Alibaba.com, earned RMB144.2 billion, up 9 percent. All other businesses together generated RMB254.4 billion, 25 percent less than a year earlier, partly reflecting the disposal of businesses.

Half from China e-commerce: The China E-commerce Group generated about half of segment revenue; cloud is now the second-largest operating segment.

Within the China E-commerce Group, customer management revenue, the fees and advertising income Alibaba earns from merchants on Taobao and Tmall, rose 5 percent to RMB343.9 billion. Quick commerce, Alibaba fast delivery service for groceries, meals and everyday goods, grew 47 percent to RMB78.5 billion. More detail on the marketplaces is in our report on Taobao and Tmall statistics.

Cloud leads growth: Cloud Intelligence Group revenue rose 34 percent, while All others shrank 25 percent.

Alibaba changed its segments again in August 2026. From the June 2026 quarter, it reports an Alibaba E-commerce Group, AI Cloud and Compute Services, AI Labs and Applications, and All others. In the June 2026 quarter, AI Cloud and Compute Services revenue grew 45 percent to RMB48.4 billion. Our report on Alibaba Cloud statistics covers this business in detail.

Quarterly revenue and profit

Alibaba revenue follows a clear seasonal pattern, peaking in the December quarter, which includes the Singles Day shopping festival on 11 November. In the December 2025 quarter, revenue reached a record RMB284.8 billion. The most recent quarter, ended 30 June 2026, brought revenue of RMB269.0 billion (US$39.6 billion), up 9 percent year on year, the fastest growth of the past two years.

December peaks: The December quarter, which includes Singles Day, is the strongest every year; revenue hit RMB284.8 billion in December 2025.

Quarterly profit has been much less stable. Net income attributable to ordinary shareholders was RMB48.9 billion in the December 2024 quarter but only RMB10.5 billion in the June 2026 quarter. In that quarter, net income fell 75 percent year on year. Alibaba said the fall was mainly due to lower income from operations and smaller gains on investments, while adjusted EBITA fell 30 percent to RMB27.3 billion because of investment in technology.

Profits squeezed: Net income fell to RMB10.5 billion in the June 2026 quarter, the lowest since March 2024.

Adjusted EBITA, cash flow and capital spending

Alibaba is in what its chief executive Eddie Wu has called an investment phase. Adjusted EBITA rose to RMB173.1 billion in FY2025 but fell 56 percent to RMB76.4 billion in FY2026, which Alibaba attributed primarily to investment in quick commerce, user experiences and technology businesses. Free cash flow fell from RMB156.2 billion in FY2024 to RMB73.9 billion in FY2025 and turned into an outflow of RMB46.6 billion in FY2026.

Cash goes negative: Capital spending of RMB126.1 billion in FY2026 pushed free cash flow to an outflow of RMB46.6 billion.

The biggest driver of cash outflow is capital expenditure on data centres and AI chips. In February 2025, Alibaba announced plans to invest at least RMB380 billion in cloud computing and AI infrastructure over three years. Capital expenditure rose from RMB86.0 billion in FY2025 to RMB126.1 billion in FY2026, and reached RMB67.7 billion in the June 2026 quarter alone, up 75 percent year on year.

Buybacks and dividends

Alibaba has returned large amounts of cash to shareholders. In FY2025 it bought back US$11.9 billion of shares, reducing its net share count by 5.1 percent, and paid a total dividend of US$2.00 per American depositary share (ADS), including a special dividend of US$0.95, about US$4.6 billion in total. With heavier investment, the payout for FY2026 was cut to the regular dividend of US$1.05 per ADS, about US$2.5 billion, and buybacks slowed sharply.

What to watch

Alibaba is betting that heavy spending on AI infrastructure and quick commerce will drive the next phase of growth, at the cost of lower profits in the near term. Revenue growth accelerated to 9 percent in the June 2026 quarter, helped by 45 percent growth in AI cloud services, while profits fell further. The company results for the September 2026 quarter, expected in November 2026, will show whether that trade-off continues. For context on the wider industry, see our reports on the largest internet companies by revenue, the biggest online stores, the most valuable internet companies, global e-commerce and PDD Holdings revenue, and our coverage of Alibaba international commerce.

Alibaba revenue in numbers

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