Alibaba Stock Climbs After Earnings. AI Demand Is Riding to the Rescue.

Alibaba Stock Climbs After Earnings. AI Demand Is Riding to the Rescue. · Barrons.com

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Alibaba stock rose Friday after a timely AI boost to the company’s cloud business helped the Chinese online retailer overcome a slump in consumer spending. Adjusted earnings per American-listed share were 15.06 yuan ($2.15) on sales of 236.5 billion ($33.7 billion) yuan for the quarter ended Sept. 30. Analysts were looking for adjusted earnings of 14.82 yuan a share on sales of 239.5 billion yuan, according to FactSet.