Alibaba reports Q1 revenue up 2% YoY to ~$34.6B, below ~$35.4B est., and net income up 76% to ~$5.9B, above ~$4B est., as AI demand drives cloud sales up 26% (Arjun Kharpal/CNBC)

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Arjun Kharpal / CNBC:Alibaba reports Q1 revenue up 2% YoY to ~$34.6B, below ~$35.4B est., and net income up 76% to ~$5.9B, above ~$4B est., as AI demand drives cloud sales up 26%  —  Alibaba posted a better-than-expected bottom line in the June quarter fueled by accelerated sales at its cloud computing unit …