Subject: Re: Alibaba's Quarterly Report Review
“Increase of US$25 billion to our share repurchase program.” Well this is hugely significant and has the potential to make material reduction in the share count

They said on the earnings call that they aim for a 3% a year reduction in shares outstanding each year through to 2026. There was also a 3% reduction in share count in 2023.

Not bad but I was hoping for a bigger reduction in shares outstanding. Akthough the headline figure for the buyback authorization is big, it's offset by share issuance for employee compensation.