Alibaba Net Income Climbs 96% in March 2026 Quarter Results

Alibaba Group Holding Limited reported a sharp headline profit increase in its March quarter, even as operating pressure remained visible across the business. As of August 6, 2026, the key story is clear: net income rose 96% year over year to RMB23.502 billion, while revenue increased 3% to RMB243.380 billion.

The company also reported a loss from operations of RMB848 million, showing that profit growth came mainly from investment-related gains, not stronger core operating income. Alibaba Group Holding Limited still showed solid momentum in cloud, AI, quick commerce, and international wholesale, giving the quarter a mixed but data-rich profile.

Alibaba Group Holding Limited March Quarter Results

Revenue Growth Stayed Positive

Alibaba Group Holding Limited generated RMB243.380 billion in revenue, equal to US$35.283 billion. That was up 3% from RMB236.454 billion a year earlier. On a like-for-like basis, excluding Sun Art and Intime disposals, revenue would have grown 11%. That detail matters because it shows the underlying business grew faster than the reported headline number.

Metric	March Quarter 2025	March Quarter 2026	Change
Revenue	RMB236.454 billion	RMB243.380 billion	+3%
Net income	RMB11.973 billion	RMB23.502 billion	+96%
Loss from operations	RMB28.465 billion income	RMB848 million loss	N/A
Adjusted EBITA	RMB32.616 billion	RMB5.102 billion	-84%
Diluted earnings per ADS	RMB5.17	RMB10.36	+101%

Why Net Income Rose 96%

Investment Gains Lifted Profit

Alibaba Group Holding Limited reported net income of RMB23.502 billion, or US$3.407 billion. The 96% increase was mainly tied to mark-to-market gains on equity investments. The company also benefited from prior-year disposal losses linked to Sun Art and Intime. That means the profit jump was real, but it was not mainly driven by stronger operating profit.

Operating Pressure Was Still Clear

The company reported an operating loss of RMB848 million, compared with operating income of RMB28.465 billion one year earlier. Adjusted EBITA fell 84% to RMB5.102 billion. Alibaba Group Holding Limited said the decline came from higher spending on technology businesses, quick commerce, and user experience. The takeaway is simple: growth areas are expanding, but they are also expensive.

Cloud And AI Remained The Strongest Growth Area

Cloud Revenue Jumped 38%

Cloud Intelligence Group revenue rose 38% to RMB41.626 billion, or US$6.035 billion. External customer revenue grew 40%, while AI-related product revenue reached RMB8.971 billion. Alibaba Group Holding Limited said AI-related revenue delivered triple-digit growth for the eleventh straight quarter, making cloud one of the clearest bright spots in the report.

AI Tools Expanded Across Commerce

Alibaba Group Holding Limited also pushed AI deeper into shopping and business tools. The company highlighted Qwen, Taobao’s AI shopping assistant, and Wukong for merchant workflows. Its Model Studio customer base grew eight-fold year over year. These numbers show Alibaba is using AI for both cloud demand and commerce engagement.

China Commerce Showed Mixed Results

Quick Commerce Grew Fast

Alibaba China E-commerce Group revenue rose 6% to RMB122.220 billion. Quick commerce revenue climbed 57% to RMB19.988 billion, helped by Taobao Instant Commerce and Ele.me. That growth shows strong demand for faster local delivery services, though it also added cost pressure.

Core E-Commerce Was Softer

E-commerce revenue slipped 1% to RMB96.292 billion. Customer management revenue rose only 1% to RMB73.024 billion. On a like-for-like basis, customer management revenue would have grown 8%. Alibaba Group Holding Limited also reported more than 62 million 88VIP members, showing strength among its highest-spending users.

International Commerce Improved

AIDC Revenue Rose 6%

Alibaba International Digital Commerce Group revenue increased 6% to RMB35.429 billion. International retail revenue rose 5% to RMB28.917 billion, while international wholesale revenue grew 9% to RMB6.512 billion. The wholesale growth was supported by cross-border value-added services.

Losses Narrowed Sharply

The international segment posted an adjusted EBITA loss of RMB138 million, compared with a loss of RMB3.574 billion a year earlier. That was a major improvement. Alibaba Group Holding Limited credited better AliExpress efficiency and stronger operations across international businesses.

Key Numbers To Use

• Revenue: RMB243.380 billion, up 3%.

• Like-for-like revenue growth: 11%.

• Net income: RMB23.502 billion, up 96%.

• Net income attributable to ordinary shareholders: RMB25.476 billion, up 106%.

• Diluted earnings per ADS: RMB10.36, up 101%.

• Non-GAAP diluted earnings per ADS: RMB0.62, down 95%.

• Adjusted EBITA: RMB5.102 billion, down 84%.

• Cloud Intelligence revenue: RMB41.626 billion, up 38%.

• AI-related cloud product revenue: RMB8.971 billion.

• Quick commerce revenue: RMB19.988 billion, up 57%.

• 88VIP members: more than 62 million.

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Final Takeaway

Alibaba Group Holding Limited delivered a quarter with strong headline net income and clear AI momentum. Revenue growth looked modest at 3%, but like-for-like growth reached 11%. Cloud and quick commerce provided the strongest expansion, while adjusted EBITA and operating income showed heavy spending pressure. The result is a balanced picture: Alibaba is growing in key future areas, but the cost of that growth remains high.