Alibaba reported a 3 per cent increase in revenue for the quarter ending 31 March, which fell short of expectations due to a slowdown in the company’s international e-commerce business (Total revenue stood at 243.38 billion yuan for the quarter, or €30.6 billion)
Cloud Intelligence revenues increased by 38%, with artificial intelligence products now accounting for 30% of external cloud revenues. Earlier this year, the company separated its artificial intelligence business from its cloud computing division.
Alibaba said adjusted EBITDA fell 84 per cent due to spending on technology and fast-track commerce, which involves deliveries within 60 minutes. Reuters
There has long been an e-commerce and delivery war going on in China, which, like in the US, has the same customers.
