Alibaba's key cloud unit sales shine even as quarterly revenues miss
1. Alibaba's June quarter earnings exceeded expectations, driven by cloud sales. 2. Total revenue reached 247.65 billion yuan but missed forecasts of 252.9 billion. 3. Net income was significantly higher than expected at 43.11 billion yuan. 4. Cloud revenue grew 26% year-on-year, showing robust acceleration. 5. Despite economic uncertainty, Alibaba's stock has risen over 40% this year.