Alibaba Reports Profit Surge Despite Revenue Shortfall
The e-commerce giant's profit exceeded expectations, driven by cloud growth and international sales, but revenue fell short due to sluggish domestic spending.
- Alibaba's net income rose by 58% to 43.9 billion yuan, surpassing analyst expectations, largely due to strong investment performance.
- The company's revenue increased by 5% to 236.5 billion yuan, missing the forecasted 240.17 billion yuan as domestic e-commerce growth lagged.
- Alibaba's cloud division saw a 7% revenue increase, with AI-related products achieving triple-digit growth, marking a key area of expansion.
- International e-commerce operations, including platforms like Lazada and AliExpress, posted a 29% revenue increase, outpacing domestic growth.
- Alibaba's stock rose in pre-market trading, reflecting investor optimism about potential economic stimulus measures from the Chinese government.
The Times 
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