Alibaba (NYSE: BABA) — Q1 FY2027 Pre Earnings

Operations¹

Q4 2026

Q4 Revenue ↑ 2.9% YoY ¥243.38B

Segments

China E-commerce Group 46.2%

International Digital Commerce Group 13.4%

Cloud Intelligence Group 15.7%

All Others 24.7%

Key Earnings Driver

Public Cloud and AI-related Products China E-commerce Group revenue increased 6% to RMB122.2 billion. International Digital Commerce Group revenue increased 6% to RMB35.4 billion. Cloud Intelligence Group revenue increased 38% year over year to RMB41.6 billion. Within Cloud Intelligence Group, external cloud revenue grew 40%. The company attributed external cloud growth primarily to public cloud revenue growth and increasing adoption of AI-related products.

Key Operating Metrics²

METRIC

STATUS

China E–commerce Group↑ 6.0%

International Digital Commerce Group↑ 6.0%

Cloud Intelligence Group↑ 38.0%

Public Cloud

🟢 Scaling

AI-related products

🟢 Scaling

Key Financial Metrics

Gross Margin 34.51% -3.9 pp YoY

Backlog / Revenue N/A

CapEx Intensity 11.05% 0.11x Revenue

Sources: Alibaba FY2026 Annual Results — SEC Filing

Operations¹: Total revenue is after inter-segment elimination. Division revenue percentages are before inter-segment elimination.

Key Operating Metrics²: Core operating metrics relevant to revenue, sourced from Alibaba website and/or SEC filings for Q4, with status based on reported data.