Luz Ding / Bloomberg:

Alibaba reports Q1 revenue up 9% YoY to ~$39.64B, meeting est., and net income down 75% to ~$1.54B due to heavy AI spending and weak domestic retail consumption  —  Alibaba Group Holding Ltd.'s profit plunged more than 75% after the Chinese company ratcheted up quarterly capital spending …

Luz Ding / Bloomberg:

Alibaba reports Q1 revenue up 9% YoY to ~$39.64B, meeting est., and net income down 75% to ~$1.54B due to heavy AI spending and weak domestic retail consumption  —  Alibaba Group Holding Ltd.'s profit plunged more than 75% after the Chinese company ratcheted up quarterly capital spending …

Source: TechMeme
Source Link: https://www.techmeme.com/260820/p11#a260820p11