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Alibaba posts 5% rise in quarterly revenue on AI, cloud momentum (www.scmp.com)

submitted 2 months ago by rss@news.abolish.capital to c/china@news.abolish.capital

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Alibaba Group Holding, China’s e-commerce and cloud computing giant, on Tuesday reported a better-than-expected 5 per cent increase in revenue for the September quarter, as its cloud and artificial intelligence businesses continued to gain momentum. Total revenue for the Hangzhou-based company reached 247.8 billion yuan (US$34.8 billion) for its financial second quarter ended September 30, beating the consensus estimate of 245.2 billion yuan by Bloomberg-polled analysts. That was more than the 2...

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