On the evening of February 23rd, Alibaba released its Q3 financial results for the fiscal year ended December 31, 2022, with better-than-expected revenue and earnings, pushing Alibaba's share price up 7 per cent before trading.

Alibaba's revenue in the third quarter was 247.76 billion yuan, an increase of 2.1% over the same period last year, which was higher than the market expectation of 245.87 billion yuan.

The net profit for the quarter was 45.746 billion yuan, compared with 19.224 billion yuan for the same period last year.

The operating profit was 35.031 billion, an increase of 396% over the same period last year; the net profit attributed to common shareholders was 46.815 billion yuan, and the market expected net profit was 44.437 billion yuan, compared with 27.692 billion yuan in the same period last year.

The adjusted profit before interest, tax, depreciation and amortization was 59.16 billion yuan, up 15% from the same period last year, better than the market estimate of 53.56 billion yuan. The adjusted income per ADS was 19.26 yuan, exceeding the market estimate of 16.57 yuan, compared with 16.87 yuan in the same period last year.

The adjusted EBITDA profit margin was 24%, exceeding market estimates by 21.9%, and 21% in the same period last year.

During the quarter, the company continued to focus on reducing costs and efficiency, pursuing high-quality development, and further improving business efficiency.

According to the financial report, Taote, Amoy, ele.me, box horse and other businesses have significantly narrowed their losses compared with the same period last year. Youku has suffered losses for seven consecutive quarters compared with the same period last year.

In this quarter, Cainiao significantly enhanced its core competencies such as international express delivery, warehouse distribution supply chain and logistics terminal, increasing the number of overseas distribution centers to 15, and it became a trend for domestic products to go to sea to find rookies; warehouse distribution supply chain ensured businesses' deterministic implementation of their contracts. The next morning arrived, the next day reached the effective and stable products.

In this quarter, Cainiao significantly enhanced its core competencies such as international express delivery, warehouse distribution supply chain and logistics terminal, increasing the number of overseas distribution centers to 15, and it became a trend for domestic products to go to sea to find rookies; warehouse distribution supply chain ensured businesses' deterministic implementation of their contracts. The next morning arrived, the next day reached the effective and stable products.Among them, the number of door-to-door parcels delivered by rookie post stations in a single day exceeds 10 million, further enhancing the consumer experience.

In addition, Alibaba also announced a new stock buyback plan.

In the quarter ended December 31, 2022, 45.4 million American Deposit shares (equivalent to 363.3 million common shares) were repurchased at approximately $3.3 billion under the Company's share repurchase program.