- Alibaba Group Holding Ltd
- 20 February 2025 14:26:15
Source: Sharecast
Alibaba said sales had risen 8% to RMB 280.2bn (£30.61bn), with cloud services revenues growing 13% to RMB 31.74bn (£3.45bn) as AI-related product revenue delivered triple-digit year-on-year growth for a sixth consecutive quarter.
Income from operations came to RMB 41.2bn (£32.67) and net income attributable to shareholders was RMB 48.94bn (£38.81bn), up 83% and 333% year-on-year, respectively. Diluted earnings per share were RMB 2.55 each.
Chief executive Eddie Wu said: "This quarter’s results demonstrated substantial progress in our ‘user first, AI-driven’ strategies and the re-accelerated growth of our core businesses. During this quarter, customer management revenue at Taobao and Tmall Group grew 9% as a result of initiatives to enhance user experience and effective monetization. Our Cloud revenue growth reignited to double digits at 13%, with AI-related product revenue achieving triple-digit growth for the sixth consecutive quarter.
"Looking ahead, revenue growth at Cloud Intelligence Group driven by AI will continue to accelerate. We will continue to execute against our strategic priorities in e-commerce and cloud computing, including further investment to drive long-term growth."
As of 1425 GMT, Alibaba shares were down 2.58% at HKD 120.90 each.
Reporting by Iain Gilbert at Sharecast.com