Alibaba Group Holding announced a 5% increase in its quarterly revenue for the September period, exceeding analyst expectations. The company’s revenue reached 247.8 billion yuan (approximately $34.8 billion USD) during this period, significantly higher than the Bloomberg consensus estimate of 245.2 billion yuan. This growth was primarily driven by increased activity within its cloud computing and artificial intelligence divisions. Alibaba’s cloud services and AI technologies continue to contribute substantially to the company’s overall financial performance.
Credits: News – South China Morning Post
