Alibaba Group Holding Ltd. reported on Thursday that its revenue for the third quarter of fiscal 2025 increased by 8% year-on-year to 280.2 billion Chinese yuan ($38.4 billion), exceeding expectations. Net income skyrocketed 333% from the same quarter last year to 46.4 billion yuan ($6.4 billion) as diluted earnings per share jumped 261% to 2.55 yuan ($0.35).
"This quarter’s results demonstrated substantial progress in our 'user first, AI-driven' strategies and the re-accelerated growth of our core businesses ... Looking ahead, revenue growth at Cloud Intelligence Group driven by AI will continue to accelerate. We will continue to execute against our strategic priorities in e-commerce and cloud computing, including further investment to drive long-term growth," CEO Eddie Wu said.
Alibaba's shares surged 4.62% in premarket trade after the announcement.
