Alibaba's (9988.HK) financial affiliate Ant Group's (688688.SS) quarterly profits rose 1% year-on-year to around 4.7 billion yuan ($698 million) in the quarter ending June 30, Reuters calculations from Alibaba's quarterly earnings report showed.
The fintech giant has been attempting to pivot towards agentic commerce, digital health and embodied AI services in recent years, with its hugely popular AQ AI personal health app. It said in June that it spent a record $5.17 billion on AI R&D in 2025. Ant Group declined to comment on its earnings.
(This story has been corrected to say 'affiliate,' not 'subsidiary,' in paragraph 1)
