Alibaba reports Q1 revenue up 9% YoY to ~$39.64B, meeting est., and net income down 75% to ~$1.54B due to heavy AI spending and weak domestic retail consumption (Luz Ding/Bloomberg)

TechmemeAugust 20, 2026en

Luz Ding / Bloomberg : Alibaba reports Q1 revenue up 9% YoY to ~$39.64B, meeting est., and net income down 75% to ~$1.54B due to heavy AI spending and weak domestic retail consumption — Alibaba Group Holding Ltd.'s profit plunged more than 75% after the Chinese company ratcheted up quarterly capital spending …

This is a short summary published by AI Global Wire. The full article is owned and hosted by Techmeme — open it there to read it in full.