Jun 2026 (Q1 FY27) — Aug 20, 2026
Alibaba Q1 FY27 — AI Commercialization and Cloud Growth Accelerate
Read the full callAlibaba (BABA) earnings
- Jun 2026 (Q1 FY27)
- Mar 2026
Alibaba earnings: last reported Thu, 20 Aug 2026, for the quarter ended Jun 2026.
Guidance
What management said, and what became of it
4 of 4 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Combined cloud and AI external revenue | > USD 100 billion | Dec 2025 | we're highly confident in our ability to achieve our goal of RMB 100 billion in external cloud revenue by 2030. | Revised Down |
| AI Cloud Gross Margin | 20% | Jun 2026 | And we have good visibility into achieving gross margin of 20%. | New |
12 of Alibaba Group Holding Ltd's 16 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 14 more targets are in the full ledger.
Claimed
- Total group revenue grew 9% year-over-year to RMB 269 billion.
- Alibaba Cloud's external revenue grew 45% year-over-year, marking a 22-quarter high.
- AI-related product annual revenue run rate surpassed RMB 49.5 billion (USD 7.3 billion), maintaining triple-digit growth for 12 consecutive quarters.
- Alibaba Cloud's adjusted EBITDA increased 133% year-over-year, with its margin reaching 11.6%.
- Quick commerce business scale grew 45% with substantially narrowed losses and improved unit economics.
Qualified
- Total adjusted EBITDA decreased 30% to RMB 27.3 billion, primarily due to investment in technology.
- GAAP net income decreased 75% to RMB 10.4 billion.
- Free cash flow was an outflow of RMB 44.7 billion, compared to an outflow of RMB 18.8 billion in the prior year, mainly attributed to cloud infrastructure investment.
- CapEx was RMB 67.7 billion this quarter, reflecting a significant year-over-year increase.
- AI Lab applications segment reported an adjusted EBITDA loss of RMB 13.9 billion due to increased investment in AI capabilities and higher inference costs.
Price
$108.57 −0.49% · −$0.54
Performance −35.0% 1Y
1Y: $167.05 on 17 Oct 2025 → $108.57. High $179.97 (29 Oct 2025), low $94.81 (26 Jun 2026).
- Previous close
- $109.11
- 52-week range
- $94.81 – $179.97
- One year
- −37.41%
Overview
- Symbol
- BABA
- Sector
- Industrials
- Industry
- Services-Business Services, NEC
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
4 of 4 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Combined cloud and AI external revenue | > USD 100 billion | Dec 2025 | we're highly confident in our ability to achieve our goal of RMB 100 billion in external cloud revenue by 2030. | Revised Down |
| AI Cloud Gross Margin | 20% | Jun 2026 | And we have good visibility into achieving gross margin of 20%. | New |
Claimed
- Total group revenue grew 9% year-over-year to RMB 269 billion.
- Alibaba Cloud's external revenue grew 45% year-over-year, marking a 22-quarter high.
- AI-related product annual revenue run rate surpassed RMB 49.5 billion (USD 7.3 billion), maintaining triple-digit growth for 12 consecutive quarters.
- Alibaba Cloud's adjusted EBITDA increased 133% year-over-year, with its margin reaching 11.6%.
- Quick commerce business scale grew 45% with substantially narrowed losses and improved unit economics.
Qualified
- Total adjusted EBITDA decreased 30% to RMB 27.3 billion, primarily due to investment in technology.
- GAAP net income decreased 75% to RMB 10.4 billion.
- Free cash flow was an outflow of RMB 44.7 billion, compared to an outflow of RMB 18.8 billion in the prior year, mainly attributed to cloud infrastructure investment.
- CapEx was RMB 67.7 billion this quarter, reflecting a significant year-over-year increase.
- AI Lab applications segment reported an adjusted EBITDA loss of RMB 13.9 billion due to increased investment in AI capabilities and higher inference costs.
The full ledger
Open Alibaba Group Holding Ltd’s full ledger
A free account opens 5 company ledgers a month. All 16 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q4 FY26) — May 13, 2026
Alibaba Q4 FY26 — AI cloud growth accelerates to 40% as consumption and AI investment compress EBITA
Read the full callDec 2025 (Q3 FY26) — Mar 19, 2026
Alibaba Group Q3 FY26 — AI & Quick Commerce Drive Strategic Growth
Read the full callEvery analysed call
Alibaba earnings calls (BABA)
Financials
What the filings say
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| Total liabilities | 52,104 | 61,198 | 92,583 | 96,755 | 91,753 | 90,333 | 98,409 | 113,555 |
| Fixed assets | 13,713 | 14,601 | 22,499 | 27,102 | 25,632 | 25,645 | 28,022 | 40,983 |
| Investments | — | — | — | — | — | — | 228,826 | 155,310 |
| Total assets | 143,801 | 185,429 | 257,978 | 267,467 | 255,263 | 244,426 | 248,629 | 276,830 |
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 22,496 | 25,507 | 35,378 | 22,520 | 29,086 | 25,289 | 22,532 | 11,049 |
| Cash from investing | -22,509 | -15,263 | -37,271 | -31,327 | -19,731 | -3,023 | -25,551 | -9,762 |
| Cash from financing | -1,101 | 10,006 | 4,591 | -10,167 | -9,555 | -14,992 | -10,502 | -2,983 |
| Net cash flow | -630 | 20,829 | 1,601 | -20,368 | 314 | 7,882 | -13,388 | -2,276 |
| Capital expenditure | -4,818 | -3,483 | — | — | — | — | — | — |
| Free cash flow | 17,678 | 22,024 | — | — | — | — | — | — |
BABA operating KPIs by quarter
| KPI | Dec 2024 Q3 FY25 | Jun 2025 Q1 FY26 | Change vs prior quarter |
|---|---|---|---|
| Paid subscription members 88VIP | 49M88 VIP members, our core consumer group maintained double digit growth reaching 49 million by the end of the quarter.Source: earnings call transcript | 53M+The number of 88VIP members, our high-spending consumers group continued to increase by double digits year-over-year, surpassing 53 million.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
85 filings between Mar 25, 2026 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
$25.69M
3 purchases by 2 insiders
Sales
$85.85M
13 sales by 5 insiders
Compensation
not trading decisions- 7
- Award — granted as compensation
- 62
- Option exercise — converted options into shares
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| EVANS J. MICHAEL | — | $68.36M | Jun 29, 2026 |
| Tsai Joseph C | $20.71M | — | Aug 25, 2026 |
| Jiang Fang | — | $12.39M | Sep 30, 2026 |
| Wu Yongming | $4.98M | — | Aug 24, 2026 |
| Xu Hong | — | $4.41M | Sep 25, 2026 |
| Yu Siying | — | $518.6K | Sep 25, 2026 |
| Jiang Fan (FJ) | — | $164.3K | Jun 25, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Wu Yongming Chief Executive Officer | Option exercise | 13,334 | — |
| Oct 1, 2026 | Wu Yongming Chief Executive Officer | Option exercise | 28,000 | — |
| Oct 1, 2026 | Tsai Joseph C Director | Option exercise | 3,334 | — |
| Oct 1, 2026 | Tsai Joseph C Director | Option exercise | 7,500 | — |
| Sep 30, 2026 | Jiang Fang Chief People Officer | Sale | 885,272 | $12.00M |
| Sep 25, 2026 | Xu Hong Chief Financial Officer | Sale | 103,046 | $1.41M |
| Sep 25, 2026 | Xu Hong Chief Financial Officer | Option exercise | 200,000 | — |
| Sep 25, 2026 | Xu Hong Chief Financial Officer | Option exercise | 10,000 | — |
| Sep 25, 2026 | Xu Hong Chief Financial Officer | Option exercise | 9,000 | — |
| Sep 25, 2026 | Xu Hong Chief Financial Officer | Option exercise | 10,000 | — |
| Sep 25, 2026 | Jiang Fang Chief People Officer | Sale | 4,889 | $66.3K |
| Sep 25, 2026 | Jiang Fang Chief People Officer | Option exercise | 3,750 | — |
| Sep 25, 2026 | Jiang Fang Chief People Officer | Option exercise | 2,667 | — |
| Sep 25, 2026 | Jiang Fang Chief People Officer | Option exercise | 1,666 | — |
| Sep 25, 2026 | Jiang Fang Chief People Officer | Option exercise | 1,664 | — |
| Sep 25, 2026 | Jiang Fan (FJ) CEO of Business Group | Option exercise | 640,000 | — |
| Sep 25, 2026 | Jiang Fan (FJ) CEO of Business Group | Option exercise | 15,500 | — |
| Sep 25, 2026 | Jiang Fan (FJ) CEO of Business Group | Option exercise | 7,334 | — |
| Sep 25, 2026 | Jiang Fan (FJ) CEO of Business Group | Option exercise | 7,328 | — |
| Sep 25, 2026 | Yu Siying General Counsel | Sale | 6,764 | $91.9K |
| Sep 25, 2026 | Yu Siying General Counsel | Option exercise | 7,500 | — |
| Sep 25, 2026 | Yu Siying General Counsel | Option exercise | 2,667 | — |
| Sep 25, 2026 | Yu Siying General Counsel | Option exercise | 3,328 | — |
| Sep 23, 2026 | Ng Kong Ping Albert Director | Award | 32,000 | $0 |
| Sep 23, 2026 | Misra Kabir Director | Award | 32,000 | $0 |
| Sep 23, 2026 | Wu Maggie Wei Director | Award | 32,000 | $0 |
| Sep 23, 2026 | YANG JERRY Director | Award | 32,000 | $0 |
| Sep 23, 2026 | Lee Irene Yun-Lien Director | Award | 32,000 | $0 |
| Sep 23, 2026 | Shan Weijian Director | Award | 32,000 | $0 |
| Sep 23, 2026 | Martello Wan Ling Director | Award | 32,000 | $0 |
| Sep 10, 2026 | Wu Yongming Chief Executive Officer | Option exercise | 320,000 | — |
| Aug 25, 2026 | Tsai Joseph C Director | Purchase | 720,000 | $10.42M |
| Aug 24, 2026 | Tsai Joseph C Director | Purchase | 720,000 | $10.29M |
| Aug 24, 2026 | Wu Yongming Chief Executive Officer | Purchase | 350,000 | $4.98M |
| Jul 1, 2026 | Wu Yongming Chief Executive Officer | Option exercise | 13,333 | — |
| Jul 1, 2026 | Tsai Joseph C Director | Option exercise | 7,500 | — |
| Jul 1, 2026 | Wu Yongming Chief Executive Officer | Option exercise | 28,000 | — |
| Jul 1, 2026 | Tsai Joseph C Director | Option exercise | 3,333 | — |
| Jun 29, 2026 | EVANS J. MICHAEL President | Sale | 27,008 | $2.58M |
| Jun 29, 2026 | EVANS J. MICHAEL President | Sale | 692,992 | $65.78M |
| Jun 25, 2026 | Xu Hong Chief Financial Officer | Option exercise | 9,000 | — |
| Jun 25, 2026 | Jiang Fang Chief People Officer | Option exercise | 1,672 | — |
| Jun 25, 2026 | Jiang Fang Chief People Officer | Option exercise | 1,667 | — |
| Jun 25, 2026 | Jiang Fang Chief People Officer | Option exercise | 2,667 | — |
| Jun 25, 2026 | Jiang Fang Chief People Officer | Option exercise | 3,750 | — |
| Jun 25, 2026 | Jiang Fang Chief People Officer | Sale | 4,898 | $59.2K |
| Jun 25, 2026 | Yu Siying General Counsel | Option exercise | 3,336 | — |
| Jun 25, 2026 | Yu Siying General Counsel | Option exercise | 2,667 | — |
| Jun 25, 2026 | Yu Siying General Counsel | Option exercise | 7,500 | — |
| Jun 25, 2026 | Yu Siying General Counsel | Sale | 6,772 | $81.9K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for Alibaba Group Holding Ltd
Free account. Everything above stays public.
Write why you follow Alibaba Group Holding Ltd and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading