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Real-time News
On August 20th, Alibaba Group (09988.HK) announced its quarterly results for the period ending June 30, 2026. CEO Wu Yongming stated, “We achieved strong results this quarter, with our full-stack AI capabilities driving continued growth in commercial returns. Specifically, Alibaba Cloud’s external commercial revenue accelerated to 45%, and AI-related product revenue has achieved triple-digit year-on-year growth for the twelfth consecutive quarter. Our recently released cutting-edge language, programming, video, voice, image, and music models all rank among the top performers. We launched Qianwen Office, an AI productivity platform designed to enhance enterprise productivity and capabilities. Thanks to our full-stack AI strategy, Alibaba…” "Baidu is in a very favorable position to capitalize on the enormous growth opportunities in the artificial intelligence and AI computing power market," said Xu Hong, CFO of Alibaba Group. "This quarter, the Group achieved strong revenue growth, and the profit margins of its core businesses continued to improve. Specifically, the cloud segments revenue continued to accelerate, with high-quality earnings and operating leverage driving the EBITA margin to 12%; instant retail maintained its market share while continuously optimizing efficiency, and overall e-commerce profits remained stable. As the synergies of our core businesses are further released and more AI commercializations are gradually implemented, we will have greater flexibility in terms of strategy and financial resources to continue our disciplined investment in full-stack AI capabilities."The military administration of Kyiv reports that the death toll in Kyiv has risen to 15.The Ukrainian military reported attacks on Russias Taneko oil refinery and an oil terminal in the Krasnodar region.Alibaba (BABA.N) shares fell more than 4% in pre-market trading.Alibaba (09988.HK): Revenue from AI labs and applications grew by 16% in the first quarter.
