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Alibaba -4% premarket as profit drops 67%, revenue rises 2%, cloud prices rise 34%, signaling urgent AI monetization push
What happened
Source: https://finance.yahoo.com/news/alibaba-67-profit-equity-premium-yield-etfs-etf-iq.html" class="story-link" title="Gold and Silver Plunge Amid War, JPMorgan Debuts Equity Premium Yield ETFs | ETF">plunge-shows-100308190.html Alibaba Group Holding Ltd.’s earnings plunged while revenue barely grew, underscoring the urgency behind the Chinese e-commerce leader’s drive to wring more profits out of a swathe of costly AI endeavors. The company posted a 2% rise in sales to 284.8 billion yuan ($41.3 billion) for the three months ended December, just shy of the average projection. But net income plummeted 67% — its worst performance since ea
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Reported by r/wallstreetbets.
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