International e-commerce and global wholesale
International e-commerce fell 1%, while global wholesale grew 7% in the June 2026 quarter.
The numbers
What it is
Marketplaces that sell to consumers outside China, plus the Alibaba.com wholesale business that connects overseas buyers with Chinese suppliers.
Why it matters to the stock. This is Alibaba's main route to growth outside China, and it is currently flat to slightly down, so it does not yet offset the core business.
News
Alibaba and AUS agree to pay $600 million over illegal goods sales
The US Justice Department announced a $600 million resolution with Alibaba Group and AUS Merchant Services over illegal drugs, controlled substances and pill-making equipment sold through Alibaba.com and AliExpress.
Legal