Zhong Guo Jing Ji Wang·2025-11-25 13:14Core Insights - Alibaba Group reported Q2 FY2026 revenue of 247.795 billion yuan, exceeding market expectations, with a 15% year-over-year growth after excluding the impact of divested businesses [1] - The company continues to invest in its two strategic areas of AI + Cloud and Consumer, driving long-term growth [1] Group 1: AI and Cloud Performance - Alibaba Cloud's revenue accelerated by 34% year-over-year, reaching a new high, driven by strong AI demand [1] - AI-related product revenue has achieved triple-digit growth for nine consecutive quarters [1][2] - Alibaba Cloud is leading the AI cloud market in China, with a projected market share of 35.8% by mid-2025, surpassing the combined share of its next three competitors [2] Group 2: Consumer Business Growth - E-commerce customer management revenue (CMR) grew by 10% year-over-year, while instant retail business revenue surged by 60% [3] - The average order value and user retention rates improved significantly, contributing to the rapid growth of monthly active consumers on the Taobao app [3] - Approximately 3,500 Tmall brands have integrated their offline stores into the instant retail platform, enhancing the collaborative effect [3] Group 3: Operational Efficiency and Ecosystem Integration - Multiple businesses within Alibaba's ecosystem are accelerating their integration into instant retail, leading to significant sales growth during the Double 11 shopping festival [3] - The company’s various business units, including Gaode, Hema, and Alibaba Health, have shown revenue growth year-over-year, indicating improved operational efficiency [3]