HSBC Research published a research report, pointing out that Alibaba's (09988.HK) core business revenue and earnings in the third fiscal quarter ended at the end of December last year exceeded expectations. According to the report, this performance was mainly driven by the growth of customer management revenue (CMR) and cloud computing business that exceeded expectations. HSBC Research is optimistic about Alibaba's cloud computing business revenue growth, which is expected to increase its cloud computing business revenue growth from 12% to 17% in fiscal 2026. At the same time, due to the strong rise in AI demand, there is room for upward adjustment of the related forecasts of public cloud and AI cloud business. HSBC Research also noted that Alibaba's...

