Alibaba posts 5% rise in quarterly revenue on AI, cloud momentum
Total revenue for the Hangzhou-based company reached 247.8 billion yuan (US$34.8 billion) for its financial second quarter ended September 30, beating the consensus estimate of 245.2 billion yuan by Bloomberg-polled analysts. That was more than the 2 per cent growth rate in the previous quarter. Net income attributable to ordinary shareholders fell 52 per cent…
