Alibaba Group reported a 75% drop in quarterly profit to 10.4 billion yuan due to significant spending on AI infrastructure, which squeezed margins. Revenue rose 9% to 269 billion yuan, driven by strong growth in AI-related products and cloud services, but net income and adjusted earnings per ADS fell well below analyst expectations. Capital expenditure surged 75%, reflecting expanded computing capacity and higher chip costs. Despite the profit decline, Alibaba's AI segment showed robust momentum with triple-digit revenue growth for the twelfth consecutive quarter, signaling continued strategic focus on AI development.
Alibaba reported June quarter revenue in line with expectations but missed earnings per share (EPS) due to aggressive spending on AI development. The company's AI and cloud segment grew 45% year-over-year, with AI product revenue rising triple digits...
Alibaba reported a 9% revenue increase driven by strong growth in its cloud and AI-related products, but heavy AI investments caused a 75% drop in net income. The company is advancing agentic commerce by integrating AI into retail, with 250 million u...
Walmart lowered its Q3 and full-year earnings guidance due to slower domestic sales and reinvestment of tariff refunds into customer discounts, causing shares to drop nearly 10%. Alibaba's stock fell post-earnings as investors balanced increased AI s...
Alibaba reported non-GAAP earnings of $1.26 per ADS, below the $1.49 consensus, driven by heavy investment in AI and cloud computing. Quarterly revenue rose 9% to $39.64 billion, beating estimates, with cloud revenue up 45% due to strong AI demand. N...
Alibaba reported strong growth in its cloud division for the June quarter, driven by increased demand for its AI products. However, the company's net income fell sharply by 75% year-on-year to 10.4 billion Chinese yuan due to higher spending on cloud...
