Alibaba Group’s shares soared in Hong Kong trading on February 21, 2025, after the Chinese e-commerce giant reported quarterly earnings that exceeded market expectations. The company’s robust performance was driven by strong growth in its cloud computing and international commerce segments.

Alibaba’s revenue for the quarter reached 45.6 billion, surpassing analysts′ estimates of 43.8 billion. Net income also beat forecasts, coming in at 8.2 billion compared to the projected 7.5 billion. The company attributed its success to cost-cutting measures and increased demand for its cloud services.

“Alibaba’s earnings beat highlights its resilience amid a challenging economic environment,” said Jessica Li, an analyst at Citi. “The company’s focus on innovation and efficiency is paying off.”

Following the earnings announcement, Alibaba’s Hong Kong-listed shares jumped 8.5%, marking their biggest single-day gain in over a year. The positive sentiment also lifted other Chinese tech stocks, with Tencent and JD.com rising 2.3% and 1.8%, respectively.