In recent years, Alibaba’s stock has been at multi-year lows, and market sentiment was rock-bottom. However, a remarkable turnaround recently ignited a rally, stirring market excitement. What were the driving forces behind this sentiment shift?
Alibaba December Quarter 2024 Earnings
Alibaba recently reported its December quarter 2024 earnings and the results were decent. Revenue reached 280.15 billion yuan, surpassing analyst expectations of 279.34 billion yuan. Let’s break down this revenue further by Alibaba’s business units (in RMB millions):
