Alibaba Q1 revenue rises 9 percent in fiscal year 2027

Hong Kong (ANTARA) - Alibaba Group, a company listed on the Hong Kong stock exchange, on Thursday (20/8) reported a 9 percent year-on-year (yoy) increase in revenue in the first quarter (Q1) of fiscal year 2027, reaching 268.95 billion yuan (1 yuan = Rp2,644).

According to its financial performance report, external revenue from the cloud computing services company Alibaba Cloud surged 45 percent (yoy), recording its fastest growth in 22 quarters.

Meanwhile, revenue from AI-related products reached 12.376 billion yuan, recording triple-digit annual growth for 12 consecutive quarters.

Adjusted Earnings Before Interest, Taxes, and Amortization (EBITA) for the AI Cloud and Computing Services segment soared 133 percent (yoy).

Eddie Wu, Chief Executive Officer of Alibaba Group, said that thanks to the group’s full-stack AI strategy, Alibaba is strategically positioned to capitalise on the moment of significant growth in demand for AI and AI computing.