Alibaba reported RMB268.95 billion in revenue for the quarter ended June 30, up 9% year on year, while net income attributable to ordinary shareholders fell 76% to RMB10.54 billion. Capital expenditure rose 75% to RMB67.68 billion, mainly as the company increased investment in AI infrastructure. Alibaba’s June-quarter results also showed operating cash flow of RMB22.95 billion.
Revenue from Alibaba’s AI cloud and computing services reached RMB48.44 billion, up 45%. AI-related product revenue reached RMB12.38 billion and continued to grow at a triple-digit rate for the 12th consecutive quarter. The company also reorganized its e-commerce, cloud-computing and AI-model businesses into new operating groups. [TechNode reporting]
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