Fast Tech News on August 15: Alibaba Group announced its financial results for the first quarter of fiscal year 2025 (ending June 30) tonight.

The financial report shows that Alibaba's revenue for the quarter was 243.236 billion yuan, an increase of 4% year-on-year. Net profit was 24.022 billion yuan, a year-on-year decrease of 27%. Excluding non-GAAP items, net profit was 40.691 billion yuan, a year-on-year decrease of 9%.

Note: Alibaba's fiscal year does not align with the calendar year, starting on April 1st each year and ending on March 31st of the following year. The fiscal year 2025 starts on April 1, 2024, and ends on March 31, 2025.

Here are the results for Alibaba Group's six main business segments:

1. Taobao & Tmall Group - including Taobao, Tmall, Xianyu, 1688.com, and other businesses

Revenue from Taobao and Tmall Group was 113.373 billion yuan (approximately $15.601 billion), down 1% year-on-year.

2. Cloud Intelligence Group - including Alibaba Cloud, DingTalk, and other businesses

Revenue from the Cloud Intelligence Group (CIG) was 26.549 billion yuan (approximately $3.653 billion), up 6% year-on-year.

3. International Digital Business Group - including Lazada, AliExpress, Trendyol, Alibaba.com, and other businesses

Revenue from the International Digital Business Group was 29.293 billion yuan (approximately $4.031 billion), up 32% year-on-year.

4. Cainiao Network

Revenue from Cainiao Network (CSNLL) was 26.811 billion yuan (approximately $3.689 billion), up 16% year-on-year.

5. Local Services Group - primarily including Ele.me and Amap

Revenue from the Local Services Group (LSG) was 16.229 billion yuan (approximately $2.233 billion), up 12% year-on-year.

6. Digital Media and Entertainment Group - including Youku, Damai.cn, and Alibaba Pictures

Revenue from the Digital Media and Entertainment Group (DMEG) was 5.581 billion yuan (approximately $768 million), up 4% year-on-year.

"Our results this quarter demonstrate the effectiveness of our strategy. We have focused on enhancing user experience through high-quality products, competitive pricing, and excellent service, driving stable market share for Taobao & Tmall Group and returning the business to a growth trajectory. Our cloud computing business has achieved positive growth momentum, benefiting from increased adoption of public cloud and AI-related products. We will continue to invest to maintain our market-leading position," said Wu Yongming, CEO of Alibaba Group.