Citi Reiterates Buy Rating on Alibaba (BABA) Following Earnings

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Go back to Citi Reiterates Buy Rating on Alibaba (BABA) Following Earnings

Alibaba Group Announces June Quarter 2024 Results

August 15, 2024 6:30 AM EDT

HANGZHOU, China--(BUSINESS WIRE)-- Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter), Alibaba or Alibaba Group) today announced its financial results for the quarter ended June 30, 2024.

Our results this quarter demonstrated our strategy at work. Our focus on enhancing user experience by offering quality products at attractive prices with great service led to stabilizing market share of Taobao and Tmall Group as we returned the business on the growth trajectory. The cloud business achieved positive revenue growth momentum, driven by public cloud and AI-related product adoption as we continue to invest to maintain our... More