Alibaba's cloud unit shines even as rivalry heats up in China's 'instant commerce' space
Alibaba posted a better-than-expected bottom line in the June quarter fueled by accelerated sales at its cloud computing unit and a continued revival of its e-commerce business. Still, the Chinese giant's revenues came in under analyst forecasts. Alibaba's stock was up around 4% in premarket trade in the U.S. after initially dipping. Here's how Alibaba did in its fiscal first quarter ended June, compared with LSEG estimates: Revenue : 247.65 billion Chinese yuan ($34.6 billion), versus 252.9