阿里巴巴看到历史性机遇，首席执行官指出人工智能和快速商务获胜

Alibaba Group Holding (NYSE:BABA) shares climbed on Friday following the release of its fiscal first-quarter results, as the e-commerce giant co-founded by Jack Ma reported revenue that exceeded analyst expectations.

The company posted quarterly revenue of $34.57 billion, up 2% year-over-year, surpassing the consensus estimate of $34.26 billion.

On a like-for-like basis, excluding revenue from the divested Sun Art and Intime businesses, Alibaba’s revenue would have grown 10% year-over-year.

Also Read: Alibaba Stock Slides Ahead of Earnings as AI Push, Cloud Growth, and China Risks Take Center Stage

Despite the top-line beat, adjusted earnings per American Depositary Share (ADS) came in at $2.06, falling short of the analyst consensus of $2.13.

Adjusted net income declined 18% to $4.68 billion, while adjusted EBITA slipped 14% year-over-year to $5.42 billion, reflecting investments in Taobao Instant Commerce and enhancements to user experiences, acquisitions, and technology.

Net income, however, surged 76% year-over-year, driven primarily by mark-to-market gains from equity investments and the disposal of Trendyol’s local consumer services business.

Alibaba’s China E-commerce Group drove core growth, with revenue rising 10% to $19.55 billion. The company invested heavily in quick commerce initiatives, including the launch of Taobao Instant Commerce, which expanded on-demand delivery and spurred a 25% increase in monthly active users.

Strong results from the 6.18 Shopping Festival, higher take rates, and double-digit growth in 88VIP memberships also contributed to the segment’s performance.

International operations fared well, with the Alibaba International Digital Commerce Group reporting a 19% increase in revenue to $4.85 billion. Growth was fueled by cross-border expansion, narrowed losses, and improved unit economics at AliExpress and Trendyol through logistics optimization and investment efficiency.

The Cloud Intelligence Group posted a 26% revenue increase to $4.66 billion, driven by rising demand for AI products, public cloud services, and generative AI infrastructure. AI-related product revenue continued its streak of triple-digit growth for the eighth consecutive quarter.

Alibaba’s cash position remained robust, with $81.76 billion in cash and equivalents as of June 30, 2025. The company generated an operating cash flow of $2.89 billion, down 39%, and free cash flow was an outflow of $2.63 billion, primarily reflecting cloud infrastructure spending and investments in Taobao Instant Commerce.

Headcount slightly declined to 123,711 employees, from 124,320 at the end of March 2025.

Alibaba CEO Eddie Wu said the company drove strong growth by focusing on consumption and AI + Cloud, hitting milestones in quick commerce and boosting engagement across its platforms.

He noted that soaring AI demand accelerated Cloud Intelligence Group revenue and made AI products a significant share of revenue from external customers.

“Looking ahead, we remain committed to investing in our two strategic pillars of consumption and AI + Cloud to capture historic opportunities and drive long-term growth,” Wu added.

CFO Toby Xu said Alibaba’s core strength supports continued investment in AI and quick commerce while improving efficiency, pointing out that AIDC nearly reached breakeven this quarter.

Alibaba developed a new AI inference chip to strengthen China’s self-sufficiency push and reduce reliance on Nvidia (NASDAQ:NVDA), the Wall Street Journal reported on Friday.

Unlike its previous processors built for narrow applications, the chip, now in testing, is designed to handle a broader range of AI inference tasks. It is compatible with Nvidia’s platform, making it easier for engineers to repurpose existing software.

The chip, manufactured in China rather than by Taiwan Semiconductor Manufacturing (NYSE:TSM), reflects Alibaba’s $53 billion investment plan in AI and cloud services over the next three years.

Price Action: BABA shares are trading higher by 4.21% to $124.60 premarket at last check Friday.

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