Overview
- Total revenue rose 5% to 247.8 billion yuan for the July–September quarter as net income fell roughly 52% and adjusted EBITA declined 78% amid heavy investment and quick‑commerce spending.
- Cloud Intelligence Group revenue reached 39.8 billion yuan, with AI product sales posting triple‑digit year‑over‑year growth for the ninth consecutive quarter.
- Alibaba has spent about 120 billion yuan on AI and cloud infrastructure over the past four quarters as part of a three‑year, 380 billion yuan plan that management indicated could increase.
- Management said server and GPU supply cannot keep up with orders and is rationing accelerators, prioritizing customers that use a broader set of Alibaba Cloud services.
- The relaunched Qwen app surpassed about 10 million downloads in its first week, and shares gained several percent in recent Hong Kong and U.S. trading following the app update and earnings.