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Alibaba reports massive net profit surge, outpacing Amazon's revenue over Walmart.
Alibaba reported a 239% year-over-year increase in net profit for the final quarter of 2024, driven by growth in its cloud business and AI expansion.
This strong performance helped Alibaba's shares rise by 8.1% in the U.S. and 12% in Hong Kong.
Meanwhile, Amazon's quarterly revenue surpassed Walmart's for the first time, highlighting the tech giant's expanding influence.
U.S. markets declined, with the S&P 500 falling 0.43%, while Asia-Pacific stocks grew, with the Hang Seng Index rising 3.4%.
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Alibaba reporta un aumento masivo de ganancias netas, superando los ingresos de Amazon sobre Walmart.