Alibaba shares rally 4% after massive earnings beat


Alibaba said it is working on a rival to ChatGPT, the artificial intelligence chatbot that has caused excitement across the world. Alibaba said its own product is currently undergoing internal testing.

Kuang Da | Visual China Group | Getty Images

Alibaba reported earnings for its fiscal third quarter that smashed expectations, sending shares soaring 4% higher.

Here’s how Alibaba did in its fiscal third quarter, which ran from October to December 2022, versus Refinitiv consensus estimates: 

  • Revenue: 247.76 billion Chinese yuan vs 245.18 billion Chinese yuan expected, up 2% year-on-year
  • Earnings per American depositary share (ADS): 19.26 yuan vs 16.26 yuan expected, up 14% year-on-year.
  • Net…

Source cnbc.com

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