Alibaba exceeded profit expectations for its quarter ending September, with net income rising 58% YoY to 43.9 billion RMB ($6.07 billion), driven by gains in equity investments and operational income, though revenue of 236.5 billion RMB fell short of forecasts amid a sluggish Chinese economy. The company’s Taobao and Tmall Group reported modest 1% revenue growth, while its Singles’ Day sales showed strong consumer activity, signaling potential recovery alongside Beijing’s recent stimulus measures. Its cloud business saw 7% growth, buoyed by AI-driven products and new global partnerships, reinforcing Alibaba’s pivot toward AI and cloud services as key growth drivers.