Alibaba Cloud Revenue Jumps 45%. Is the Profit Plunge and China E-Commerce Slide Cause for Concern?
The veteran Chinese tech company published its second-quarter earnings on Thursday morning.
Overview
Alibaba Group (NYSE:BABA), which shot to fame and prominence as China's everything-but-the-kitchen-sink e-commerce giant, is in the midst of a long transformation. It's reshaping itself as a leading artificial intelligence (AI) and cloud services provider in the massive Asian country, and, in my view, that's what pushed its U.S.-listed stock up on Thursday.
This, despite a second-quarter earnings report published that morning, in which it missed badly on the bottom line. Here's what happened.
Image source: Alibaba.
Details
Source
Originally published at www.fool.com.
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