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Toby Xu

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Toby Xu
The latest news on Toby Xu, chief financial officer of Alibaba, including business news and updates.
Industry
Business, Technology
Job Title
Chief Financial Officer of Alibaba
Alibaba Group also becomes an official jersey patch partner of the Brooklyn Nets. Photo: Handout
Alibaba

Alibaba deepens sports tech push with new Brooklyn Nets partnership

The Chinese tech titan becomes the NBA team’s official technology and cloud partner and jersey patch sponsor ahead of its 60th anniversary.

Alibaba

Alibaba CEO signals capex boost as China tech giant forges full-stack AI path

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China’s private sector

Partnerships, not plants: Chinese companies rethink overseas expansion strategy

Alibaba

Alibaba to lead AI capital spending among Chinese firms amid strong demand

The group’s intention to boost AI-related capital outlay reflects its aim to spearhead China’s efforts in the race for global AI leadership.

Alibaba Cloud continues to grow demand for its open-source Qwen AI model family. Photo: Shutterstock
Alibaba

Alibaba posts 5% rise in quarterly revenue on AI, cloud momentum

‘We have entered into an investment phase to build long-term strategic value in AI technologies and infrastructure,’ CEO Eddie Wu Yongming says.

E-commerce

Meituan, JD.com build central kitchens to ratchet up China’s delivery war

China’s catering industry is transforming, as internet platform operators become more involved in the food supply chain.

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Alibaba

Alibaba’s finance chief voices confidence in China’s AI boom

Toby Xu Hong says Alibaba’s substantial investments in AI and delivery services are are an endorsement of China’s progress.

Alibaba’s chief financial officer Toby Xu. Photo: Handout
Alibaba

Alibaba revenue edges up to US$33.5 billion but misses estimates in June quarter

The tech giant’s revenue grew 4 per cent, while profits were down 29 per cent to US$3.3 billion, as it seeks to shore up e-commerce and cloud services.

Alibaba

Alibaba sees most profitable year since 2021 amid a refocus on core businesses

Alibaba net income rose 10 per cent to US$11 billion in the 2023 financial year, the first annual results since co-founder Joe Tsai took over as chairman.

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Alibaba

Alibaba board approves separate listings for Cloud, Cainiao units

Chinese e-commerce giant Alibaba Group Holding reported a 2 per cent increase in revenue for its fourth quarter, while also approving a full spin-off of its cloud, logistics and supermarket businesses.

Alibaba signage is seen in front of its offices in Guangzhou, southern China. Photo: Bloomberg
Alibaba

Alibaba to turn into an ‘asset and capital operator’ after overhaul, CEO says

Daniel Zhang, Alibaba’s chairman and chief executive, said the group will initially retain control over the boards of the six new companies created under its restructuring plan.

Alibaba Group Holding chairman and chief executive Daniel Zhang Yong said change is necessary for the company to continue moving forward. Photo: Shutterstock
Alibaba

Alibaba net income halves, revenue flat amid economic headwinds

Alibaba Group Holding reported better-than-expected earnings for the June quarter, even as weakened consumption and economic headwinds in China crimped the profitability of the world’s largest e-commerce retailer.

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Alibaba

Alibaba posts slowest ever quarterly revenue growth as economy slows

E-commerce giant Alibaba reported a 9 per cent increase in revenue for the March quarter, the slowest pace on record amid lockdowns but cloud business turns full year profit for first time.

Alibaba

China stock buybacks get seal of approval as Goldman sees winning run

The market is rallying on the back of stock buyback overdrive from Chinese tech juggernauts. Tencent, however, did not announce one in its latest report card on Wednesday.

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Stock buyback euphoria is keeping the local makret upbeat for now. Photo: Bloomberg
Alibaba

Alibaba expands share buy-back to a record US$25 billion amid stock slump

Alibaba has boosted its share buy-back programme from US$15 billion to US$25 billion, making it the largest buy-back in the tech giant’s history.

The mascot for Alibaba’s Taobao e-commerce platform is displayed near the company’s headquarters in Hangzhou. Photo: Bloomberg
Alibaba

Alibaba revenue slump extends to December quarter amid weak consumer spending

The Chinese e-commerce giant posted its slowest quarterly revenue growth since the company went public in 2014.

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