Alibaba (NYSE: BABA) — Q1 FY2027 Post Earnings

Operations¹

Q1 2027

Q1 Revenue ↑ 8.6% YoY ¥268.95B

Segments

Alibaba E-commerce Group 71.9%

AI Cloud and Compute Services 16.9%

AI Labs and Applications 1.2%

All Others 10.0%

Key Earnings Driver

Freshippo and Taobao Instant Commerce AI Cloud and Compute Services revenue increased 45% year over year to RMB48.4 billion, driven primarily by public cloud revenue growth and increasing adoption of AI-related products. AI-related product revenue reached RMB12.4 billion. Alibaba E-commerce Group revenue increased 4% to RMB205.9B. Within Alibaba E-commerce Group, China Quick Commerce revenue increased 45% to RMB53.3 billion, primarily driven by Freshippo and Taobao Instant Commerce.

Key Operating Metrics²

METRIC

STATUS

Alibaba E–commerce Group↑ 4.0%

China Quick Commerce↑ 45.0%

Freshippo

🟢 Scaling

Taobao Instant Commerce

🟢 Scaling

AI Cloud and Compute Services↑ 45.0%

Public Cloud

AI-related products

Key Financial Metrics

Gross Margin 38.25% -6.65 pp YoY

Backlog / Revenue N/A

CapEx Intensity 25.16% 0.25x Revenue

Sources: Alibaba Q1 FY2027 Earnings Release — SEC Filing, Alibaba Q1 FY2027 Earnings Call Transcript — ROIC.ai

Operations¹: Total revenue is after inter-segment elimination. Division revenue percentages are before inter-segment elimination. Division names changed beginning Q1 2027 following Alibaba’s restructuring of its operations.

Key Operating Metrics²: Core operating metrics relevant to revenue, sourced from Alibaba website and/or SEC filings for Q1, with status based on reported data.