Alibaba Revenue Rises 3% on Cloud and AI Growth
Alibaba revenue rose 3% as cloud sales jumped 38% on AI demand. Domestic e-commerce beat estimates with subsidy help, though total revenue missed expectations.
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ALIBABA GROUP HOLDING LTD reported a 3% rise in quarterly revenue to 243.38 billion yuan ($35.84 billion) for the period ended March 31. The result missed LSEG consensus estimates of 247.22 billion yuan as international e-commerce growth slowed. Investors are weighing a 38% surge in cloud and AI demand against fragile consumer confidence in China.
