Alibaba Boosts Q2 Revenue 14%

Alibaba logo on phone

For the first three-month period following its March 2023 corporate restructuring into six distinct businesses, Alibaba Group increased Q2 revenue 14% year-over-year to $32.3 billion. The ecommerce giant also saw growth in its Taobao and Tmall group, with revenue increasing 12% to $15.8 million for Q2. Additionally, daily active users (DAU) of the Taobao app grew 6.5% year-over-year during the month of June.

“Alibaba delivered a solid quarter as we continue to execute our reorganization, which is beginning to unleash new energy across our businesses,” said Daniel Zhang, Chairman and CEO of Alibaba Group in a statement. “Through this self-driven transformation, we aim to catalyze innovation, promote vitality in our organization and enable businesses to focus on long-term growth.”

Alibaba’s Freshippo supermarkets division also has been in a growth mode, opening 12 new stores in eight Chinese cities as it prepares for an IPO. Additionally, Alibaba shares soared in July 2023 on news of a $982 million fine that many believed signaled the end to a Chinese government crackdown on the tech sector.


Featured Event

Join the retail community as we come together for three days of strategic sessions, meaningful off-site networking events and interactive learning experiences.



Access The Media Kit


Access Our Editorial Calendar

If you are downloading this on behalf of a client, please provide the company name and website information below: