Along with its quarterly results, Alibaba $BABA+0.0% told us the news that it has approved the spin-off of its cloud unit. Alibaba on Thursday approved the full spin-off of Cloud Intelligence Group, aiming to complete the spin-off in the next 12 months.
Question for investors who hold BABA stock - Are you happy with the spin-off of Cloud Intelligence Group?
On the results - The company posted revenue of 208.20 billion yuan ($30.12 billion) for the three months ended March, compared with Refinitiv's consensus estimate of 210.3 billion yuan.
Non-GAAP earnings per share: 1.34 yuan vs. expectations of 2.08 yuan