Alibaba ended 2024 with the strongest sales growth since 2023.
The Chinese e-commerce giant's revenues increased by eight percent to 280 billion yuan, approximately 400 billion kronor. It was stronger than analysts' expectations and the stock is rising in American pre-trading, where the stock is also listed.
The group's cloud business, where many of the AI investments are located, reported a 13 percent increase in revenues.
The adjusted profit after tax landed at 51 billion yuan, up 6.5 percent compared to the fourth quarter of 2023.
