16:53 - 20.02.2025
February 20, Fineko/abc.az. Alibaba Group Holding Ltd. recorded the fastest revenue growth in more than a year, reflecting the recovery of its commercial business and significant advances in artificial intelligence (AI).
ABC.AZ reports, referring to Bloomberg, that company's shares rose more than by 6% on the New York Stock Exchange.
In the December quarter, company's sales grew by 8%, reaching 280.2 billion yuans ($38.6 billion), due to expansion of cloud services.
After harsh government measures that dealt a severe blow to Alibaba's Internet business, the company began to recover in 2024 under the leadership of Joe Tsai and Eddie Wu. The cloud division responsible for AI projects increased revenue by 13% to $4.3 billion, while international sales, including AliExpress and Trendyol, increased by 32%.
Alibaba has increased its market value by almost $100 billion in 2025, although it is still far from its peak. Jack Ma, who had previously come under government repression, reappeared in public, attending a summit with Chinese business and technology leaders.
