TapTechNews August 16th news, Alibaba released its financial report for the first quarter of fiscal year 2025 ending June 30 yesterday: Revenue was 243.236 billion yuan, a year-on-year increase of 4%. Net profit was 24.022 billion yuan, a year-on-year decrease of 27%; excluding US Generally Accepted Accounting Principles, net profit was 40.691 billion yuan, a year-on-year decrease of 9% (TapTechNews note: Alibaba's fiscal year is not synchronous with the calendar year, starting from April 1 of each year and ending on March 31 of the following year).
The high return rate was a hot topic during this year's 618. At the teleconference after the release of the financial report, Alibaba executives said: The overall return rate of domestic e-commerce is increasing, the return rate of Taotian (the company to which Taobao and Tmall belong) is slightly lower than the industry average level. We see that when the retention rate, purchase frequency, and feedback of the shopping experience of consumers improve with the improvement of the return experience, we think it is healthy.
The financial report of Alibaba shows that the revenue of Taobao Tmall Group is 113.373 billion yuan, the revenue of the Cloud Intelligence Group is 26.549 billion yuan, the revenue of the International Digital Business Group is 29.293 billion yuan, the revenue of the Cainiao Group is 26.811 billion yuan, and the revenue of the Local Life Group is 16.229 billion yuan, and the revenue of the Great Entertainment Group is 5.581 billion yuan. Wu Yongming, CEO of the Alibaba Group, said that most of Alibaba's businesses will gradually achieve break-even within 1-2 years and gradually begin to contribute scalable profitability.
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Alibaba's revenue in the first quarter of fiscal year 2025 was 243.24 billion yuan, a year-on-year increase of 4%, and the number of 88VIP members exceeded 42 million