Alibaba Financial Report: Q4 Cloud External Revenue Accelerates to 40% Growth, E-commerce CMR Up 8%

格隆汇2026/05/13 09:50

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Glonhui May 13｜Alibaba Group released its FY2026 Q4 and annual financial report. Alibaba AI has moved beyond the initial investment phase and officially entered the commercial return cycle. The report shows that Alibaba Cloud's external commercial revenue growth accelerated to 40%, with AI-related products accounting for over 30% for the first time, becoming a new growth engine. Quarterly revenue from AI-related products reached 8.971 billion yuan, with annualized revenue exceeding 35.8 billion yuan. E‑commerce CMR comparable growth was 8%, and instant retail saw strong growth of 57%. The market size remained stable, and unit economic efficiency continued to improve.

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