Alibaba Stock Jumps as Results Surpass Estimates

Core Insights - Alibaba Group's U.S. shares surged over 10% in premarket trading following the release of quarterly results that exceeded expectations, driven by growth in its cloud business and AI initiatives [1][5] Financial Performance - Revenue for the December quarter increased by 7.6% year-over-year to 280.15 billion Chinese yuan (approximately $38.5 billion) [2][5] - Earnings per share (EPS) per American Depositary Share (ADS) reached$2.93, surpassing analyst estimates [2] Business Growth - Cloud revenue grew by 13% year-over-year in the fiscal third quarter, with AI-related product revenue achieving triple-digit growth for the sixth consecutive quarter [3] - CEO Eddie Wu highlighted substantial progress in the company's "user first, AI-driven" strategies and the reacceleration of core business growth [2] Stock Performance - Alibaba shares have increased by 70% over the past year, influenced by partnerships with companies like Apple to develop AI features for iPhones in China [4] - The return of co-founder Jack Ma to Beijing's political landscape, including a meeting with Chinese leader Xi Jinping, has also positively impacted stock performance [4]