Alibaba Group Holding Limited · NYSE:BABA
Alibaba — Q2 2026 Earnings Presentation
18 slides from Alibaba's earnings presentation, Nov 25, 2025
Slide 1: September Quarter 2025 Results
September Quarter 2025 Results November 25, 2025
Slide 2: Disclaimer
Disclaimer This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States (“GAAP”), including adjusted EBITDA (including adjusted EBITDA margin), adjusted EBITA (including adjusted EBITA margin), non-GAAP net income,
Slide 3: Business and Financial Highlights
Business and Financial Highlights Revenue for the quarter ended September 30: 15% • We are continuing our focus and discipline on AI + Cloud and consumption, Total Revenue and we see strong momentum from these strategies with gains in technology, (Excluding Sun Art market share, customers and user e
Slide 4: Financial Highlights
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Slide 5: Cash Flow & Balance Sheet: Selected Financials
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Slide 6: Share Repurchase
Share Repurchase • During the quarter ended September 30, 2025, we repurchased a total of 17 million ordinary shares (equivalent to approximately 2 million ADSs) for a total of US$253 million. These purchases were made in the U.S. market under our share repurchase program. The remaining amount of Bo
Slide 7: Cost of Revenue and Operating Expenses
Cost of Revenue and Operating Expenses Cost of Revenue (excluding SBC) Product Development Expenses (excluding SBC) (RMB Mn) (RMB Mn) Three months ended Six months ended Three months ended Six months ended % of Revenue % of Revenue Sales & Marketing Expenses (excluding SBC) General & Administrative
Slide 8: Segment Results: Quarter ended September 30, 2025
Segment Results: Quarter ended September 30, 2025 LGI..8-,(4G:8.(7.78N.24.-$.I8AMC8BMBD !"#$%$% !"#$%$% 3(4.I(%4#,(%" &G#(% 5#6#4%" &",17 )*+,--.I+. &,--.I+. 3(4.""#6.(+. 3(4.I*:.6-.(4 !"#$%&'$&#($)*+),-$,).+)#-/0)12 0I,12 0I,12 0I,12 !""894G.I: ;<= >(%"",+%4.7 ."#-#(%4#,( &,(:,"#7%4.7 ?.@.(1. 8<ABC
Slide 9: Alibaba China E-commerce Group
Alibaba China E-commerce Group Taobao Instant Commerce Ele.me Business Highlights E-commerce Revenue During the quarter, we executed our plan to reach critical mass scale in quick commerce, • Revenue from our E-commerce business in the quarter ended September 30, 2025 improve user experience and enh
Slide 10: Alibaba International Digital Commerce Group (“AIDC”)
Alibaba International Digital Commerce Group (“AIDC”) Business Highlights International Commerce Retail Revenue A combination of logistics optimization and investment efficiency enhancement resulted • Revenue from our International commerce retail business in the quarter ended in AIDC’s adjusted EBI
Slide 11: Cloud Intelligence Group
Cloud Intelligence Group Business Highlights Segment Revenue For the quarter ended September 30, 2025, revenue from Cloud Intelligence Group was • Revenue from Cloud Intelligence Group was RMB39,824 million (US$5,594 million) in RMB39,824 million (US$5,594 million). The year-over-year growth of tota
Slide 12: All Others
All Others Amap (Orange Lion Sports) Segment Revenue Segment Adjusted EBITA • Revenue from All others segment was RMB62,969 million (US$8,846 million) in • Adjusted EBITA from All others segment in the quarter ended September 30, 2025 the quarter ended September 30, 2025, a decrease of 25% year-over
Slide 13: Appendix
Appendix
Slide 14: Segment Results: Six months ended September 30, 2025
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Slide 15: Revenue Breakdown
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Slide 16: GAAP to Non-GAAP Measures Reconciliation
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Slide 17: GAAP to Non-GAAP Net Income Attributable to Ordinary Shareholders
GAAP to Non-GAAP Net Income Attributable to Ordinary Shareholders R;4,,G21/-;:G,/8,8G),J-,25,4G="> ).SG21/-;:G,/8,8G),J-,25,4G="> !"!# !"!M !"!# !"!M !"#$%#&$'()'*+$*',$-./,'$0/+/1 $%& $%& G()* $%& $%& G()* G+,-G./012,G3--4.56-357,G-1G148./349G:;34,;178,4:G<G53:.0 G#=>?@# G!">AA" G!>A#? GB?>C#= GB#>
Slide 18: Slide 18
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