Alibaba Repurchased $4.8 Billion of Shares in March Quarter

By Tracy Qu

Chinese e-commerce giant Alibaba Group repurchased US$4.8 billion of shares during the March quarter.

Alibaba said late Tuesday that it repurchased the shares in both the U.S. and Hong Kong markets.

The company said it conducted buybacks for a total of 1.25 billion ordinary shares for the fiscal year ended March 31 for US$12.5 billion.

In February, Alibaba approved a US$25 billion increase to its share-repurchase program through March 2027.

Alibaba said it has US$31.9 billion available as of March 31 under its buyback program, through the next three fiscal years ending March 2027.

Write to Tracy Qu at [e-mail]

(END) Dow Jones Newswires

04-02-24 2130ET