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Alibaba Q2 Earnings Overview
Alibaba released its Q2 results this morning before the US open. The results were overwhelmingly positive, and management did a good job keeping costs stable year-over-year. Cloud intelligence was a particular bright spot, as the segment’s EBITDA grew over +100% year-over-year (YoY). International digital commerce was also a high point, with revenue up +41% YoY. Meanwhile, Cainiao logistics swung to profitability.
During the call, outgoing CEO Daniel Zhang acknowledged that this was his 30th and final earnings call as group CEO and that he was excited to begin his focused work on the cloud division. He also pointed out that despite weakness in macro data coming out of China, his company’s results speak to a steady consumer rebound in China and that the company’s increased focus on price competitiveness was proving fruitful.
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