Earnings Presentation Q4 FY2023
Financial Highlights
Three months ended March 2023,
Year ended March 31,
Alibaba
(in RMB millions, except per share data and percentages)
2022
2023
YoY%
% Total
Revenue
% Total
2022
Total revenue
(1)
China commerce
204,052
208,200
2%
100%
853,062
2023
868,687
YoY%
Revenue
2%
100%
140,079
136,073
(3)%
65%
591,580
582,731
(1)%
67%
International commerce
Local consumer services
14,335
18,541
29%
9%
61,078
69,204
13%
8%
(1)
10,696
12,549
17%
6%
44,616
50,112
12%
6%
Cainiao
11,582
13,619
18%
7%
46,107
55,681
21%
6%
Cloud
Digital media and entertainment
Innovation initiatives and others
18,971
18,582
(2)%
9%
74,568
77,203
4%
9%
8,005
8,273
3%
4%
32,272
31,482
(2)%
4%
384
563
47%
0%
2,841
2,274
(20)%
0%
Income from operations
16,717
15,240
(9)% (3)
7%
69,638
100,351
44% (3)
12%
Share-based compensation expense
(3,737)
7,546
N/A
4%
23,971
30,831
29%
4%
Amortization and impairment of intangible assets
2,831
2,494
(12)%
1%
11,647
13,504
16%
1%
Impairment of goodwill
N/A
N/A
25,141
2,714
(89)%
0%
Diluted (loss) earnings per share (6)
(0.76)
(5)
1.12 (5)
N/A
Diluted (loss) earnings per ADS
(6)
(6.07) (5)
9.00 (5)
N/A
2.84
22.74
3.43
27.46
21% (5)(7)
21% (5)(7)
Non-GAAP Measures
(2)
Adjusted EBITA
Non-GAAP diluted earnings per share (2)(6)
Non-GAAP diluted earnings per ADS (2)(6)
15,811
0.99
7.95
25,280
60% (4)
12%
1.34
10.71
35% (4)(7)
35% (4)(7)
130,397
6.59
147,911
13%
17%
6.82
4% (4)(7)
52.69
54.56
4% (4)(7)
Notes:
(1)
(2)
(3)
(4)
(5)
(6)
Beginning on October 1, 2022, we reclassified the revenue of our Instant Supermarket Delivery (f) business, which was previously reported under China commerce segment, as revenue from Local consumer services segment following the strategy
refinement of Instant Supermarket Delivery business to focus on building customer mindshare for grocery delivery services through Ele.me platform. This reclassification conforms to the way that we manage and monitor segment performance. Comparative figures
were reclassified to conform to this presentation.
See the section entitled "GAAP to Non-GAAP Measures Reconciliation" for more information about the non-GAAP measures on Pages 16 and 17.
Excluding the impact of the RMB13,046 million reversal of share-based compensation expense related to the mark-to-market adjustment of Ant Group share-based awards granted to our employees, income from operations for the quarter ended March 31, 2023
would have increased by RMB11,569 million year-over-year. Excluding the impact of certain items, our income from operations in fiscal year 2023 would have increased by RMB24,143 million year-over-year.
The year-over-year increases were primarily due to an increase in China commerce adjusted EBITA, as well as narrowed adjusted EBITA losses of Local consumer services and Digital media and entertainment.
The year-over-year changes for the quarter ended March 31, 2023 were primarily due to net gains arising from the increases in the market prices of our equity investments in publicly-traded companies, compared to net losses from these investments in the same
quarter last year, partly offset by the decrease in share of profit of equity method investees, the increase in impairment of investments and the decrease in income from operations. The year-over-year increases in fiscal year 2023 were primarily due to the increase
in income from operations and the decrease in net losses arising from changes in the fair values of our equity investments, partly offset by the decrease in share of profit of equity method investees and the increase in impairment of investments.
Each ADS represents eight ordinary shares.
(7)
The year-over-year percentages as stated are calculated based on the exact amount and there may be minor differences from the year-over-year percentages calculated based on the RMB amounts after rounding.
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