Alibaba reported a 34% year-on-year rise in cloud computing revenue to 39.8 billion yuan.
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Alibaba
delivered better than expected revenue in its fiscal second quarter as sales in its key cloud computing division accelerated.
Here’s how the company did in its fiscal second quarter ended Sept. 30 versus LSEG estimates:
Revenue rose 5% year-on-year.
China's Alibaba has reported accelerating AI and cloud revenue growth driven by the AI boom, which has jumped 38% in the…
Alibaba's Hong Kong-listed shares jumped 19% on strong results at its cloud computing division driven by its AI investments.
Company’s shares jump 19 per cent as investors move on from interim results to focus on quick commerce numbers and AI development.
Alibaba posted a a revenue miss in the June quarter even as it showed an acceleration at its cloud computing unit.
Total revenue rose 2 per cent year on year to US$34.6 billion in the three months ended June 30.
Alibaba plans to increase spending on AI models and infrastructure development even further, Chief Executive Officer Eddie Wu…
