Alibaba's fourth quarter earnings signaled a dramatic turnaround, according to Benzinga. Net income soared 1,203% to $1.65 billion, driven by aggressive cost-cutting, 18% cloud revenue growth, and a strategic push into AI. While its 7% year-over-year revenue gain missed estimates, operating income surged 93%, and adjusted EBITDA rose 36%, underscoring a return to profitability and financial discipline. The company’s Cloud Intelligence Group, fueled by generative AI, reported its seventh straight quarter of triple-digit AI-driven cloud growth. CEO Eddie Wu called generative AI the key growth driver, drawing strong interest from global investors as AI expands across business and consumer sectors. Shares of Alibaba are up 38% year to date.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Alibaba's fourth quarter earnings signal a dramatic turnaround, according to Benzinga.
00:06Net income soared 1,203% to $1.65 billion, driven by aggressive cost cutting, 18% cloud
00:14revenue growth, and a strategic push into AI. While at 7% year-over-year revenue gained
00:19missed estimates, operating income surged 93%, and adjusted EBITDA rose 36%, underscoring
00:25a return to profitability and financial discipline. The company's cloud intelligence group,
00:30fueled by Generative AI, reported a seventh straight quarter of triple-digit AI-driven
00:35cloud growth. CEO Eddie Wu called Generative AI the key growth driver, drawing strong interest
00:40for global investors as AI expands across business and consumer sectors. Shares of Alibaba are up
00:4638% year-to-date. For all things money, visit Benzinga.com slash GSTV.