Alibaba 2QFY26: Cloud Explodes, but QC Burns the Profits — Turning Point or Trap?
Alibaba just posted one of its most contradictory quarters in years.
☁ Cloud revenue jumped 34.5% YoY — the strongest growth since the restructuring.
🔥 But adj. EBITA collapsed 78%, dragged down by heavy investment in quick commerce (QC).
Here’s the twist:
Management says cloud demand is so strong that supply can’t keep up, and QC losses have been cut by 50% per order since August.
And Keeta Hong Kong?
➡ Turned profitable in just 29 months, beating its own 36-month target.
So the big question:
Is Alibaba entering a new “cloud + quick commerce” synergy cycle?
Or will QC continue burning profits?
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- JWJT·12-04 01:24Great article, would you like to share it?LikeReport