China’s Alibaba Group posted a 34% jump in revenue from its cloud business in its most recent quarter, buoyed by the boom in artificial intelligence.

But overall revenue at the Chinese tech group for the July-September quarter increased by just 5% year-on-year to 247.8 billion yuan ($35 billion), and profit fell 52% from last year, as a fierce price war in China's e-commerce landscape, including in the food delivery segment, eroded into short-term profitability. JD.com, its e-commerce rival, reported a 55% net profit drop in the same quarter.

You May Also Like

Coal Ministry notifies rules doing away with CCO n...

Seeking to improve efficiency in the approval process towards accelerating coal production, the...

infosys 2025 buyback tax implications

📊 What Are the Tax Implications for Infosys 2025 Buyback“Deemed Dividend” TreatmentUnder the a...

Vodafone Idea gets ₹638 crore GST penalty order; t...

Telecom operator Vodafone Idea (VIL) on Thursday (January 1, 2026) said it has received about ₹...