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Alibaba has unveiled its financial results for the second quarter, reporting revenue amounting to 247.8 billion yuan, which outstripped the market's anticipated figure of 245.2 billion yuan. However, the adjusted earnings per American Depositary Share (ADS) stood at 4.36 yuan, falling short of the projected 6.34 yuan. Within these figures, the revenue generated by Alibaba's e-commerce business group in China reached 132.58 billion yuan. Moreover, the adjusted net profit clocked in at 10.35 billion yuan, below the estimated 16.8 billion yuan. Alibaba highlighted that its two key sectors, AI+Cloud and Consumer, maintained robust growth during this quarter. Specifically, the Cloud Intelligence Group posted revenue of 39.82 billion yuan, surpassing the estimated 37.99 billion yuan.
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