Alibaba stock surges 6.2% on unveiling advanced AI model, expected earnings growth

From Nasdaq: 2025-01-31 08:05:00

Alibaba’s stock surged 6.2% to $102.74, driven by strong trading volume. The company unveiled Qwen2.5-Max, an advanced AI model outperforming competitors in various benchmarks. This move enhances Alibaba’s cloud services, positioning it for growth in the AI sector. Earnings are expected to rise by 15.4% to $3.08 per share with revenues of $38.19 billion.

Despite positive earnings growth, Alibaba’s EPS estimate was revised 36.8% lower in the last 30 days. This could impact future stock performance. The stock holds a Zacks Rank #3 (Hold). In the same industry, Booking Holdings saw a 1.1% increase to $4,774.33 and has a consensus EPS estimate of $35.71 for the next report.

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Read more at Nasdaq: Alibaba (BABA) Surges 6.2%: Is This an Indication of Further Gains?