Arba (Baba) Q3 2024 profits

Ali Baba The stocks jumped on Thursday in the pre -market trade after the Chinese Titan recorded a sharp increase in profits in the quarter -finals amid a force in the cloud intelligence unit and the e -commerce sector.

Ali Baba said that net income amounted to 48.945 billion yuan (6.72 billion dollars) in the quarter ended on December 31, compared to LSEG expectations of 40.6 billion yuan and with reporting 14.433 billion yuan in the same period last year.

Revenue came in 280.154 billion yuan, compared to the expectations of analysts of 279.34 billion yuan.

The company’s share has increased by 50 % on both New York and Hong Kong stock exchanges per year so far.

“The results of this quarter showed great progress in the first user strategies, which are driven by artificial intelligence” and reintestibly growth of our basic work, “Eddie Woo, CEO of Alibaba, said in a statement accompanying the results.

“Our cloud revenue has been ignited to 13 % double numbers, with the prosecution revenues of the prosecution achieved by the three -quarter -number of number of quarter in a row. Given the future, the growth of revenues in the Cloud Intelligence Group will continue by artificial intelligence.”

The shares of the company listed in the United States increased by 13.7 % after issuing the results.

The technical activities of the retail giant are closely monitored by investors yet Announcement of the Chinese company’s partnership with Apple To offer the features of the IPHONE devices sold in Chinese.

The market focus on Chinese technical developments in the wake of the revolutionary version in late January of the new artificial intelligence model of artificial intelligence at the local Deepseek company, which the company claims to be more efficient and productive than the leading US counterparts in the sector. Alibaba, which has made steps for the first time in artificial intelligence with its Chatgpt product launch Tunisian Qianwin (QWEN) in 2023, earlier this year, a new version of QWEN 2.5 of its technology that claimed that the Deepseek model. According to Reuters.

“The age of artificial intelligence submits a clear and huge demand for infrastructure. We will invest strongly in the infrastructure of Amnesty International,” Wu said in the Thursday’s profit call, according to the version. “Our planned investments in the infrastructure of the cloud and the sponing organization over the next three years will exceed what we have done over the past decade.”

Jack Ma founder, who has been largely out of his eye since 2020, was among the entrepreneurs who He attended a rare meeting closed Headed by Chinese President Xi Jinping on Monday, the Beijing leader urged private companies to “show their talents” and enhance their confidence in a “new era” for their activity.

Questions remained on the feelings of consumers in the second largest economy in the world. The latest data indicates that Chinese retail sales jumped by a 3.7 % of expected 3.7 % in DecemberBeijing also set out in the fight against the lengthy real estate stagnation with a set of stimulus measures-including interest rate discounts and a five-year financial package of $ 10 trillion. Some analysts warned against Persistent In consumer spending, the consumer enlargement is accelerating this Fast five months in January.