Alibaba's Q4 net income sinks by 96% to $127M - Breaking The News

Alibaba's Q4 net income sinks by 96% to $127M

14 May

1 min read

EPA-EFE/WU HONG

Alibaba Group Holding Limited announced on Tuesday its revenue in the fourth quarter of the enterprise's fiscal year 2024 observed an annual increase of 7% to hit $30.73 billion. On the other hand, the company's net income plunged by 96% compared to the same trimester in 2023 to land at $127 million. Meanwhile, its diluted earnings per share (EPS) plummeted by 86% year-on-year to $0.02.

"We are committed to continuing to return value to our shareholders. During fiscal year 2024, we repurchased US$12.5 billion of shares and our board of directors has approved a US$4.0 billion dividend for fiscal year 2024," Chief Financial Officer (CFO) Toby Xu commented.

Following the release of the report, Alibaba's shares declined by 5.20% during premarket trading.

earnings alibaba

Related Stocks

Alibaba GR. Holding

Alibaba Holding L...

Morgan Stanley's Q1 revenue up by 17.2% to $17.7B

13 hours ago

Morgan Stanley announced on Friday that its net revenue in the first quarter of the fiscal year 2025 saw an annual rise of 17.2% to hit $ 17.7 billion. The bank's net income increased by 26.5% compared to the same period the year before to reach $4.3 billion. Its diluted earnings per share (EPS) grew by 28.7% year-on-year to $2.60. Meanwhile, its return on tangible common equity (ROTCE) went from 19.7% to 23%."Total client assets of $7.7 trillion across...

Wells Fargo's Q1 revenue down 3% to $20.15 billion

13 hours ago

Wells Fargo & Company announced on Friday that its revenue in the first quarter of fiscal 2025 stood at $20.15 billion, dropping 3% compared to the same period a year prior. Meanwhile, its net income rose by 6% in the reported period, landing at $4.9 billion, while diluted earnings per share (EPS) came in at $1.39, surging 16% year-over-year."We produced solid results with diluted earnings per share increasing 16% from a year ago reflecting fee-based revenue...

JPMorgan's Q1 revenue up 8% to $46 billion

14 hours ago

JPMorgan Chase & Co. announced on Friday that its managed revenue in the first quarter of its fiscal 2025 reached $46 billion, jumping 8% year over year and beating expectations. In the reported trimester, on an annual basis, net income climbed 9% to $14.6 billion, while diluted earnings per share advanced 14% to $5.07."The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the...

BlackRock's revenue in Q1 up 12% to $5.3 billion

14 hours ago

BlackRock Inc. shared on Friday that its revenue in the first quarter of its fiscal 2025 came in at $5.3 billion, growing 12% compared to the same three-month period in 2024.Meanwhile, net income in the first trimester landed at $1.5 billion, down 4% on an annual basis, while diluted earnings per share tumbled 8% to $9.64. Operating income was virtually unchanged at $1.7 billion."BlackRock's positioning and connectivity with clients are stronger than...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.