Alibaba June quarter: cloud revenue up 45%, net income down 75%

Alibaba reported June-quarter 2026 revenue of RMB268.95 billion, up 9% year over year. AI Cloud and Compute Services revenue rose 45% to RMB48.4 billion, with external cloud revenue growing at the same pace, while AI product revenue grew triple digits for a twelfth straight quarter. Net income fell 75% to RMB10.4 billion as the AI Labs and Applications loss widened to RMB13.9 billion, and CNBC reported the shares fell about 5% that day. The release gave no financial guidance and announced no new buyback or dividend.

• Revenue RMB268.95 billion (US$39.64 billion), up 9% year over year
• AI Cloud and Compute Services revenue RMB48.4 billion, up 45%
• China Quick Commerce revenue RMB53.3 billion, up 45%
• Net income RMB10.4 billion, down 75%; non-GAAP net income RMB20.7 billion, down 38%
• No guidance and no new buyback or dividend; US$162 million of shares repurchased in the quarter