By Alibaba Group’s stock surged in Hong Kong on February 21, 2025, following the release of a strong earnings report that exceeded market expectations. The Chinese e-commerce giant reported revenue of 45.6 billion for the quarter, beating estimates of 43.8 billion. Net income also came in higher than expected at $8.2 billion.
The company’s cloud computing and international commerce divisions were key drivers of growth. Alibaba’s cost-cutting measures and focus on innovation also contributed to its impressive performance.
“Alibaba’s results demonstrate its ability to adapt and thrive in a competitive market,” said Michael Zhang, an analyst at Goldman Sachs. “The company is well-positioned for future growth.”
Alibaba’s Hong Kong-listed shares rose 8.5%, their largest single-day gain in over a year. The positive earnings report also boosted other Chinese tech stocks, with Tencent and JD.com seeing gains of 2.3% and 1.8%, respectively.