Reports to The Alibaba Group Holding Ltd. Offices in Beijing, China, Wednesday, March 29, 2023. Tech Titans while potentially unlocking billions of dollars in value of repressed shareholders.
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Alibaba Actions jumped Thursday after the Chinese Titan published a sharp increase in profits during the December quarter in the middle of its strength in its cloud intelligence unit and its electronic commerce segment.
Alibaba declared that net profit had reached 48.945 billion yuan ($ 6.72 billion) in the quarter enclosed on December 31, compared to an LSEG forecast of 40.6 billion yuan and with the 14.433 billion yuan reported to the lessons from the same period last year.
Income reached 280.154 billion yuan, against analyst expectations of 279.34 billion yuan.
The actions of the company jumped approximately 50% on the exchanges of New York and Hong Kong during the year to date.
“The results of this quarter have shown substantial progress in our” user user, IA -focused “strategies and the reactive growth of our main companies,” said Alibaba CEO Eddie Wu, in a press release accompanying the results.
“Our Cloud income growth has rekindled two figures to 13%, revenues of AI products achieving three -digit growth for the sixth consecutive quarter. In the future, income growth in the Cloud Intelligence Group Led by AI will continue to speed up. “
The actions listed in the United States of the company increased by 8.5% after the publication of the results.
Tech in the home
Alibaba’s Cloud Intelligence Group has shown annual shift growth from 13% to 31.742 billion yuan in three months to the end of December.
The technological activities of the retail giant are closely monitored by investors after the Announcement of the Chinese company partnership with Apple To deploy AI features for iphones sold in Chinese.
The market market has sharpened on Chinese technological developments after the revolutionary end of January of the new AI model of the local startup Deepseek, which, according to society, is more efficient and affordable than the American counterparts of the sector. Alibaba, who first performed in AI with the launch of her own chatgpt style product Tongyi Qianwen (Qwen) In 2023, earlier this year, deployed a new Qwen 2.5 version of its technology which, according to her, exceeds the Deepseek model, According to Reuters.
“The AI era presents a clear and massive demand for infrastructure. We will invest aggressively in AI infrastructure,” Wu said in a profit call on Thursday, according to a statement of notes. “Our investment planned in Cloud and AI infrastructure over the next three years should exceed what we have spent in the past decade.”
The Founder Franca of Alibaba, Jack Ma, who has been widely sidelined by the public since 2020, was one of the entrepreneurs who Assisted at a rare camera meeting Directed by Chinese President Xi Jinping on Monday, during which the Beijing chief urged private companies to “show their talents” and strengthen their confidence in a “new era” for their activity.
Sales
The main trade units of Alibaba, Taobao and Tmall, displayed an annual increase of 5% of income to 136.091 billion yuan during the December quarter, while the international digital trade group – which oversees companies of electronic commerce such as Lazard and Aliexpress – added 32% of years to 37.756 billion revenues at Course of the period on the back of “strong performance of cross -border companies”.
The questions have persisted on consumers’ feeling in the second world economy. The latest data indicate that Chinese retail sales jumped through a 3.7% annual better than expected in DecemberAs Beijing aimed to fight against an prolonged real estate crisis with a series of recovery measures – including interest rate reductions and a five -year tax set worth 10 yuan billions. Some analysts warned against weakness in consumer spending, but consumer inflation has nevertheless accelerated its The fastest in five months in January.
