Alibaba Group Holding Ltd. reported revenue of RMB 247.8 billion (US$34.8 billion) for the quarter ended September 30, 2025, a 5% year-over-year increase. Excluding revenue from disposed businesses Sun Art and Intime, revenue rose 15% on a like-for-like basis. Income from operations was RMB 5.4 billion (US$754 million), down 85% year-over-year, while adjusted EBITA decreased 78% to RMB 9.1 billion (US$1.3 billion). The declines were mainly due to investments in quick commerce, user experiences, and technology. The Cloud Intelligence Group saw revenue rise 34%, with AI-related product revenue achieving triple-digit year-over-year growth for the ninth consecutive quarter. The Alibaba China E-commerce Group recorded double-digit revenue growth, driven by improved operating results and enhanced efficiencies, and quick commerce showed substantial improvement in unit economics supported by higher logistics efficiency, strong customer retention, and increased average order value.
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