TradingKey – Alibaba begins the month of September at $118.90, where it closed August at $118.90, from the chart reference supplied. The rapid growth of AI Cloud is countered by the slower growth of the core commerce business and heavy spending on infrastructure. Free cash flow is being hurt the most. Spending on infrastructure has made a $10.2 billion equity placement to fund AI Cloud, but has increased the expected returns of this placement.
AI Cloud Growth Is Now the Core BABA Catalyst
Alibaba posted June quarter revenue of RMB 268.95 billion or $39.64 billion, an increase of 9% over the same quarter the previous year. Net income fell 75% to RMB 10.44 billion, and non-GAAP net income fell 38%, reflecting operating profits that were…
