Non-GAAP net income was RMB40,188 million ( US$5,508 million), an increase of 19% year-over-year. We excluded net gains or losses arising from the changes in fair value of our investments from our non-GAAP measurements. Net income was RMB26,696 million ( US$3,659 million), compared to net loss of RMB22,467 million in the same quarter of 2022, primarily attributable to a net gain arising from the increase in fair value of our equity investments, compared to a net loss from these investments in the same quarter last year, and an increase in adjusted EBITA. Net income attributable to ordinary shareholders was RMB27,706 million ( US$3,797 million).Adjusted EBITA, a non-GAAP measurement, increased 18% year-over-year to RMB42,845 million ( US$5,872 million). We excluded share-based compensation expense from our non-GAAP measurements. The year-over-year increase was primarily attributable to an increase in adjusted EBITA, as well as a decrease in share-based compensation expense. Income from operations was RMB33,584 million ( US$4,603 million), an increase of 34% year-over-year.Revenue was RMB224,790 million ( US$30,810 million), an increase of 9% year-over-year.We are confident in our business fundamentals and are pleased to announce our first annual dividend distribution for fiscal year 2023, with an aggregate amount of approximately US$2.5 billion, as part of our continued efforts to enhance shareholders’ return in addition to the ongoing share repurchase program.” “Under our capital management plan, we are prioritizing investment in technology and innovations for our businesses to drive new growth. “We achieved a stable quarter with revenue increasing 9% year-over-year and income from operations and adjusted EBITA increasing 34% and 18% year-over-year, respectively,” said Toby Xu, Chief Financial Officer of Alibaba Group. Through a more flexible organizational governance mechanism, we aim to capture brand new opportunities from the ongoing AI technological transformation and create more value for our customers,” said Eddie Wu, Chief Executive Officer of Alibaba Group. We are committed to investing for growth and making bold decisions where necessary. We will maintain an entrepreneurial mindset. As we embark on a new phase of development, we have clearly defined our strategic focus and priorities. “Alibaba Group delivered a solid quarter, marked by renewed momentum and energy across multiple businesses as a result of our strategic reorganization. Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter), “Alibaba” or “Alibaba Group”) today announced its financial results for the quarter ended September 30, 2023.
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