Alibaba's recent earnings report showed a 7% revenue increase to $32.5 billion, falling short of analyst expectations. Despite a quarterly share drop of 7%, the stock is up 58% year-to-date, driven by ventures in AI and cloud computing. The company saw significant annual growth, with net income surging 62%. CEO Eddie Wu credited the effectiveness of the 'user first, AI-driven' strategy. Alibaba partners with Xiaohongshu for enhanced consumer insights and is expanding its instant commerce delivery service to fight competition during the shopping season.
"Our results this quarter and for the full fiscal year demonstrate the ongoing effectiveness of our 'user first, AI-driven' strategy, with core business growth continuing to accelerate."
"With an ongoing mission to boost local consumption and gain an advantage over its rivals... Alibaba struck up a strategic partnership with Xiaohongshu, Chinaâs popular social commerce platform."
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