Alibaba Group Holding Limited (BABA) Q1 2027 Earnings Call Transcript

Alibaba Group Holding Limited (BABA) Q1 2027 Earnings Call August 20, 2026 7:30 AM EDT

Lydia Lu - Head of Investor Relations

Yongming Wu - CEO, Head of Core E-Commerce Business & Director

Toby Xu - Chief Financial Officer

Alicis a Yap - Citigroup Inc., Research Division

Charlene Liu - HSBC Global Investment Research

Yang Bai - China International Capital Corporation Limited, Research Division

Yuan Liao - Citic Securities Co., Ltd., Research Division

Alex Yao - JPMorgan Chase & Co, Research Division

Good day, ladies and gentlemen. Thank you for standing by. Welcome to Alibaba Group's June Quarter 2026 Results Conference Call.

I would now like to turn the call over to Lydia Lu, Head of Investor Relations of Alibaba Group. Please go ahead.

Lydia Lu Head of Investor Relations

Thank you. Good day, everyone, and welcome to Alibaba Group's June Quarter 2026 Earnings Conference Call. Joining the call today are Joe Tsai, Chairman; Eddie Wu, Chief Executive Officer; Toby Xu, Chief Financial Officer; Jiang Fan, Chief Executive Officer of Alibaba E-commerce Business Group.

Before we get started, I would like to remind you that today's discussion may contain forward-looking statements based on management's current expectations that are subject to risks and uncertainties. We also make reference to non-GAAP financial measures. Reconciliations between GAAP and non-GAAP measures are included in today's earnings press release and investor presentation. Our comments will be on year-over-year comparisons unless we state otherwise. A replay of the call will be available on our website later today. With that, I would like to turn the call over to Eddie.

Yongming Wu CEO, Head of Core E-Commerce Business & Director

Good evening, good morning, and welcome to Alibaba Group's Earnings Call for the First Quarter of Fiscal Year 2027. Over the past quarter, Alibaba's strategic AI