Alibaba Group Holding (NYSE: BABA) just reported earnings for the quarter ended 30 June 2023. Let us take a look at its reported financial results in a nutshell:

• Revenue was up 14% year on year to RMB 234,156 million (USD 32,292 million).
• Income from Operations was up 70% year on year to RMB 42,290 million (USD 5,860 million). This was due to the one-off reversal of share-based compensation expense of RMB 6,901 million (USD 962 million) which helped to boost. Without this, income from operations would still have been up but lesser by 43% year on year.
• Net Income attributable to ordinary shareholders was RMB 34,332 million (USD 4,735 million).
• Non-GAAP net income was up 48% year on year to RMB 44,922 million (USD 6,195 million)
• Operating Cashflow was up 34% year on year to RMB 45,306 million (USD 6,248 million). Free Cash Flow was up 76% year on year to RMB 39,089 million (USD 5,391 million).

Overall, as we expected, financial results turn out better as compared to the previous year as the...