Alibaba’s Cloud Intelligence Group revenue rose 34% to RMB39,824 million in the September 2025 quarter while group operating income fell 85%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Alibaba Group Holding Limited reported revenue of RMB247,795 million (renminbi, China’s currency, as in all figures here) for the quarter ended Sep 30, 2025, up 5% from RMB236,503 million a year earlier. Excluding revenue from the disposed businesses Sun Art and Intime, revenue on a like-for-like basis would have grown by 15%. The figures come from its announcement of the September quarter 2025 results and interim results for the six months ended Sep 30, 2025, which it filed with the SEC on Nov 25, 2025 in a Form 6-K, the report foreign companies listed in the US use for news outside their annual reports.1^,2^,3^,4

Cloud Intelligence Group had revenue of RMB39,824 million, up 34% from RMB29,610 million, a segment figure stated before the elimination of sales between Alibaba’s own segments. The company said the segment’s revenue excluding Alibaba-consolidated subsidiaries rose 29%, primarily on public cloud growth, including increasing adoption of AI-related products. Chief executive Eddie Wu said AI-related product revenue grew at triple-digit year-over-year rates for the ninth consecutive quarter. The segment’s adjusted EBITA, a non-GAAP measure, rose 35% to RMB3,604 million from RMB2,661 million; for the quarter, the release reconciles the group’s adjusted EBITA to income from operations by deducting non-cash share-based compensation and amortization of intangible assets. Chief financial officer Toby Xu said Alibaba was re-investing its profits and free cash flow, expected near-term profitability to fluctuate and had deployed approximately RMB120 billion in capital expenditure on AI and cloud infrastructure over the past four quarters. Free cash flow, a non-GAAP measure of liquidity, was an outflow of RMB21,840 million, against an inflow of RMB13,735 million a year earlier, which the company attributed mainly to its investment in quick commerce and higher cloud infrastructure spending. As of Oct 31, 2025, more than 180,000 derivative models had been built on the Qwen family on Hugging Face, the company said.5^,6^,7^,8^,9^,10^,11^,12

Income from operations fell 85% to RMB5,365 million from RMB35,246 million, primarily because adjusted EBITA for the group fell 78% to RMB9,073 million from RMB40,561 million, which the company tied to its investment in quick commerce, user experiences and technology. Adjusted EBITA at Alibaba China E-commerce Group fell 76% to RMB10,497 million from RMB44,327 million, while quick commerce revenue rose 60% to RMB22,906 million. Net income was RMB20,612 million, against RMB43,547 million a year earlier, and net income attributable to ordinary shareholders was RMB20,990 million. Non-GAAP net income, which excludes non-cash share-based compensation, gains and losses on investments, impairment of goodwill and intangible assets and certain other items, was RMB10,352 million, down 72% from RMB36,518 million. Interest and investment income, net, was RMB20,092 million in the quarter, mainly on mark-to-market changes, and the company excluded the investment gains and losses in it from its non-GAAP net income.13^,14^,15^,16^,17^,18^,19^,20