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Alibaba Group Holding Ltd. (HK:9988) saw its Hong Kong-listed shares jump sharply on Thursday after the Chinese e-commerce and technology giant reported better-than-expected quarterly earnings driven by strong momentum in its cloud computing and artificial intelligence businesses.
Alibaba shares climbed as much as 8.4% during trading, reaching HK$144.0 after investors reacted positively to the company’s latest financial results and optimistic outlook for AI commercialization.
For the quarter ended March 31, Alibaba posted revenue of 243.38 billion yuan ($35.3 billion), representing a 3% year-over-year increase. The company’s cloud intelligence segment delivered one of the strongest performances, with revenue rising 38% compared to the same period last year. External cloud revenue also increased 40%, supported by growing enterprise demand for AI-powered solutions and cloud infrastructure services.
Alibaba highlighted that revenue from AI-related products achieved triple-digit growth for the 11th consecutive quarter. The company credited rising adoption of its Qwen large language models and expanding cloud ecosystem as major drivers behind the growth. Businesses across multiple industries continue to invest in AI technologies, helping Alibaba strengthen its position in China’s competitive AI and cloud market.
Net income attributable to ordinary shareholders more than doubled to 25.48 billion yuan during the quarter. The sharp increase was supported by stronger cloud operations and gains from equity investments.
Chief Executive Eddie Wu stated that Alibaba’s long-term investments in full-stack AI technologies are now moving from the development stage into large-scale commercial deployment. The company continues to prioritize artificial intelligence, cloud computing, and digital innovation as key growth engines.
Alibaba also announced an annual cash dividend of $0.13125 per ordinary share, adding further confidence for investors seeking long-term value in the Chinese technology sector.
