Alibaba posts 15% like-for-like gain

Alibaba reported Q3 revenue of RMB 247.8 billion, up 5% YoY, or 15% on a like-for-like basis excluding divestitures of the Sun Art and Intime businesses. Cloud revenue rose 34% on continued AI demand, while China commerce customer management revenue increased 10%. Adjusted EBITA fell 78%, and free cash flow shifted to a RMB 21.8 billion outflow as investments continued.