HONG KONG, Aug. 20 (Xinhua) -- Hong Kong-listed Alibaba Group on Thursday reported a 9-percent year-on-year rise in revenue for the first quarter of fiscal 2027, hitting 268.95 billion yuan (about 39.63 billion U.S. dollars).
According to the earnings report, external revenue from Alibaba Cloud jumped 45 percent year-on-year, marking its fastest growth in 22 quarters.
Revenue from AI-related products reached 12.376 billion yuan, posting triple-digit year-on-year growth for the 12th consecutive quarter.
Adjusted EBITA for the AI Cloud and Compute Services segment surged 133 percent year-on-year.
Eddie Wu, chief executive officer of Alibaba Group, said that driven by the group's full-stack AI strategy, Alibaba is well-positioned to capture the substantial growth in demand for artificial intelligence and AI computing.
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