Alibaba reported higher than expected revenue due to strong growth in its instant retail and artificial intelligence initiatives. The e-commerce giant’s revenue increased by 34% to $31.4 billion in the last quarter, surpassing analyst estimates of $30.1 billion. This growth is attributed to the company’s focus on expanding its digital infrastructure and enhancing customer experience.

Read more at Investing.com: Alibaba revenue tops estimates with strong instant retail, AI push