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flag Alibaba reports massive net profit surge, outpacing Amazon's revenue over Walmart.

flag 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. flag This strong performance helped Alibaba's shares rise by 8.1% in the U.S. and 12% in Hong Kong. flag Meanwhile, Amazon's quarterly revenue surpassed Walmart's for the first time, highlighting the tech giant's expanding influence. flag 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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