Alibaba Earnings: Cloud Acceleration Is A Bullish Catalyst

Alibaba just released its first quarter earnings. While the headline metrics were missed, the AI-related metrics were phenomenal, particularly in the cloud segment. Analysts covering the stock expected $36.36 in revenue and $0.84 in EPS. Actual results were $35.28 billion in revenue and $1.52 in reported EPS. AI-related revenue increased by triple digits for the tenth consecutive quarter!