In its financial report, Alibaba stated that the group's whatsapp number in australia strategic focus and sustained investment have paid off, and its two core businesses of e-commerce and cloud have continued to make positive progress: Taotian Group's online GMV maintained steady growth, and Alibaba Cloud focused on "public cloud + AI", with public cloud business revenue growing by double digits and AI-related product revenue growing by triple digits.
"This quarter's results show that our strategy is working. We focused on improving user experience through good products, good prices and good services, which led to Taotian Group's stabilization of market share and the return of its business to growth track. Cloud computing business revenue achieved positive growth momentum, thanks to the increased adoption of public cloud and artificial intelligence-related products. We will continue to invest to maintain our market leadership," said Wu Yongming, CEO of Alibaba Group.
In addition, the financial report shows that Alibaba Group continues to accelerate its share repurchases, having invested US$5.8 billion to repurchase 613 million shares of common stock this quarter, an increase over the past few quarters.
The financial report shows that as of the quarter ending June 30, Alibaba's outstanding common shares were 19.024 billion shares, with a net decrease of 445 million common shares in the quarter, a net decrease of 2.3%. The continued acceleration of repurchase efforts not only creates returns for shareholders, but also highlights the confidence in the business prospects. According to statistics, in the past fiscal year 2024, Alibaba has invested a total of US$12.5 billion in repurchases, and the scale of repurchases has remained the largest among Chinese concept stocks.