Ant Group quarterly profits rise 1% on year
Ant Group, Alibaba's financial subsidiary, reported a 1% year-on-year increase in quarterly profits to around 4.7 billion yuan ($698 million) for the period ending June 30, according to Reuters' calculations based on Alibaba's earnings report. The company has been focusing on shifting towards agentic commerce, digital health, and embodied AI services in recent years, with a popular AQ AI personal health app.
In June, Ant Group disclosed that it had spent a record $5.17 billion on AI research and development in 2025, but the subsidiary did not provide any comments on its earnings.
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