Alibaba (BABA) tops Q1 earnings estimates, approves Cloud Intelligence Group spin-off
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Alibaba Group Announces March Quarter and Full Fiscal Year 2023 Results
May 18, 2023 7:05 AM EDTHANGZHOU, China--(BUSINESS WIRE)-- Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, Alibaba or Alibaba Group) today announced its financial results for the quarter and fiscal year ended March 31, 2023.
In an increasingly complex world, we have proactively transformed our organization to strengthen the competitiveness of our businesses through greater independence to address the evolving needs of different customers and capture new opportunities, said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. We are taking concrete steps towards unlocking value from our businesses and are pleased to announce that our board has approved a full spin-off of the Cloud... More
