Alibaba: Fiscal Year 2026 Third Quarter Revenue of 2848.4 Billion Yuan

Sina Tech News, March 19 — Alibaba Group announced its Q3 fiscal year 2026 financial report, showing total revenue of 284.843 billion yuan, up 2% year-over-year. Excluding the disposed businesses of Intime and GXS Retail, revenue increased by 9%. Alibaba Cloud revenue accelerated by 36%, and AI-related product revenue has grown triple-digit for ten consecutive quarters. Adjusted net profit was 16.71 billion yuan; adjusted EBITA was 34.06 billion yuan.

AI business achieved dual breakthroughs, with the Qianwen app surpassing 300 million monthly active users on the consumer side; the Wukong platform for enterprise users entered public beta, creating the world’s first enterprise-grade AI-native work platform. Meanwhile, the instant retail business expanded further, with revenue up 56%.

Alibaba Group CEO Daniel Zhang said, “This quarter, Alibaba continued to invest heavily in AI and consumer sectors. AI is one of our main growth engines. Alibaba Cloud’s revenue grew strongly by 36%, with AI-related product revenue achieving triple-digit growth for the tenth consecutive quarter. Our MaaS platform business also saw rapid growth, building a new engine for cloud growth. Additionally, the integration of the Qianwen app with Alibaba’s consumer ecosystem accelerated, significantly driving new user growth and transaction activity. The MAU for Qianwen across all platforms has exceeded 300 million, marking the era of large-scale AI agents. Moving forward, leveraging ‘large models + cloud + chips’ full-stack AI capabilities and full integration with Alibaba’s business ecosystem, we will continue to advance in both AI for B2B and B2C.”

Alibaba’s investments in AI continue to pay off. Alibaba Cloud’s revenue this quarter accelerated to 36%, with external commercialized revenue growing 35%. AI-related product revenue has achieved triple-digit year-over-year growth for ten consecutive quarters.

Pingtouge, Alibaba’s self-developed GPU, made its first appearance in Alibaba’s financial report. Pingtouge’s GPU has achieved mass production, supporting internal Alibaba businesses and providing commercial services to hundreds of external enterprise clients via Alibaba Cloud, contributing significantly to cloud infrastructure supply.

In terms of models, the new generation large model Qwen 3.5-Plus was released in February, demonstrating excellent performance across inference, programming, and agent benchmarks.

To support the explosive growth of AI agents, Alibaba has established the Alibaba Token Hub business group, focusing on “producing tokens, transmitting tokens, and applying tokens.” The MaaS platform business is experiencing rapid growth.

On January 15, the Qianwen app integrated deeply with Alibaba’s ecosystem, including Taobao Tmall, Taobao Flash Sale, Amap, Fliggy, and Alipay, becoming China’s first AI assistant capable of executing complex real-world tasks at scale. According to the financial report, by the end of February, nearly 140 million users experienced AI shopping for the first time through Qianwen’s intelligent agent features. In February, the monthly active users of Qianwen’s consumer app exceeded 300 million.

On March 17, Alibaba launched a new AI-to-B platform — Wukong — opening public beta to global users. This platform serves as Alibaba’s unified enterprise AI solution, with Alibaba’s entire ecosystem B2B capabilities gradually integrated into Wukong.

Within the quarter, Alibaba’s instant retail business further expanded, with revenue up a strong 56%. Thanks to improved fulfillment logistics efficiency, better order structure, and high customer retention, unit economics and order value continued to improve sequentially.

The synergy between instant retail and e-commerce drove double-digit year-over-year growth in active consumers on the Taobao app. During the Tmall Double 11 shopping festival, Taobao app’s consumer base also grew by double digits year-over-year, with nearly 600 brands surpassing 100 million yuan in transactions.

Meanwhile, operational efficiency across multiple businesses improved. Alibaba International Digital Commerce Group’s losses narrowed significantly year-over-year. Hema and Alibaba Health continued to grow revenue, while Cainiao and Tiger Wale Entertainment showed improved performance.