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An update from Alibaba Group Holding Ltd. ( (HK:9988) ) is now available.
Alibaba Group announced its financial results for the December Quarter 2024, highlighting substantial progress in its ‘user first, AI-driven’ strategies and re-accelerated growth of its core businesses. Key performance indicators included a 9% growth in customer management revenue at Taobao and Tmall Group and a 13% increase in cloud revenue, bolstered by a significant rise in AI-related product revenue. Financial discipline was maintained with positive EBITA growth and strategic balance sheet management, including non-core asset sales and share buybacks. Overall, the company’s revenue increased by 8% year-over-year to RMB280,154 million, and net income rose by 333% to RMB46,434 million, driven by improved operating efficiency and strategic investments in e-commerce and cloud computing.
More about Alibaba Group Holding Ltd.
Alibaba Group Holding Limited is a leading Chinese multinational conglomerate specializing in e-commerce, retail, Internet, and technology services. The company operates various businesses, including Taobao and Tmall, which are significant players in the e-commerce sector, and offers cloud computing services through its Cloud Intelligence Group.
YTD Price Performance: 50.61%
Average Trading Volume: 85,107,711
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$2400.7B
Learn more about 9988 stock on TipRanks’ Stock Analysis page.
