Alibaba Group Holding Ltd. (HK:9988) has released an update.
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Alibaba Group Holding Limited reported a 5% year-over-year revenue increase for the September Quarter 2024, driven by enhanced monetization strategies for Taobao and Tmall platforms. The company saw significant growth in its cloud business, particularly in AI-related products, while continuing to improve operational efficiencies and profitability in other sectors. Notably, Alibaba repurchased $4.1 billion of shares, reflecting strong confidence in its core business and delivering shareholder value.
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