Shares of Alibaba Group Holding Ltd ($BABA) surged over 3% in pre-market trading on Friday after the Chinese e-commerce giant reported stronger-than-expected fiscal second-quarter (Q2) profit. Net income climbed to 43.

Alibaba gained despite fiscal Q2 sales coming in lower than expected as earnings beat estimates with AI growth.

Alibaba stock rose after the Chinese online retailer posted fiscal second-quarter earnings that beat analysts’ estimates but revenue that missed forecasts. Adjusted earnings per American-listed share were 15.

Alibaba 9988-0.85%decrease; red down pointing triangle Group posted lower-than-expected quarterly revenue as the e-commerce giant contended with a weaker Chinese economy and growing competition from newer rivals, even as international sales boomed. The ...

In August, China's market regulator issued a statement saying Alibaba had completed three years "rectification" following a record $2.75 billion fine levied in 2021 for monopolistic behaviour, drawing a line under the company's regulatory troubles.