Alibaba Group Holding Ltd. (NYSE: BABA) has revealed that it exceeded its revenue forecasts for Q4 2023 and enjoyed a 7% year-over-year revenue increase to bring in a whopping $30.73 billion. The Chinese technology company notes that the unexpected growth was largely due to the success of its cloud and e-commerce businesses, which helped it surpass the $30.4 billion consensus estimate set forth by Bloomberg.
Furthermore, Alibaba’s earnings for fiscal year 2024 have seen an 8% year-over-year increase to $130.13 billion, which allowed the technology multinational to…
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