On August 20, Alibaba (09988.HK) reported a revenue of 269 billion yuan for Q1 of fiscal year 2027, compared to 247.65 billion yuan in the same period last year, marking a year-on-year increase of 9%. The external revenue growth of Alibaba Cloud accelerated to 45%, and revenue from artificial intelligence-related products achieved triple-digit growth.
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Alibaba Q1 Revenue for Fiscal Year 2027 Reaches 269 Billion Yuan, Up 9% Year-on-Year
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X Explores Paying Creators with Stablecoins
On August 20, sources revealed that Elon Musk's social media platform X is exploring the use of stablecoins, including Circle's USDC, to pay royalties to content creators and influential users. Discussions are still ongoing. Stablecoins have become an important tool for blockchain payments due to their faster and lower-cost cross-border payment capabilities. Recently, X has also been adjusting its creator incentive mechanisms, planning to replace the existing revenue-sharing program with an 'Original Content Reward Program' to reward original content, professional opinions, reporting, creativity, and commentary. -
Alibaba Q1 Revenue for FY2027 Reaches 269 Billion Yuan, Up 9% Year-on-Year
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