From CNBC: 2025-02-20 21:51:44

Alibaba’s shares surged in Hong Kong after reporting stellar quarterly results, with a growth in cloud Intelligence and e-commerce segments. China allocated $41.5 billion to boost consumption, benefiting the tech sector. Founder Jack Ma attended a private meeting with President Xi Jinping, post intense regulatory crackdown on the company. Alibaba reported net income of $6.72 billion for the quarter ended Dec. 31, surpassing estimates.



Read more at CNBC:: Alibaba shares soar 11% in Hong Kong after stellar earnings as China’s e-commerce sector recovers