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Investor's Business Daily

Investor's Business Daily

Technology

Technology

Alibaba Stock Jumps Following Earnings Beat, Strong AI Cloud Growth

Investor's Business Daily
Summary
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86% Informative

Alibaba Group (BABA) reported fiscal third-quarter earnings and sales that beat expectations.

Cloud revenue for Alibaba growth accelerated, with the company touting strong AI-related demand.

Alibaba earned an 21.39 yuan per share on sales of 280.38 billion yuan , or $38.4 billion .

Alibaba stock is up 6% at 134.19 in recent premarket trading.