Alibaba shares rise 3% in premarket after Chinese tech giant posts 58% jump in profit
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Alibaba shares increased by 3% in premarket trading following a 58% rise in profits, indicating strong financial performance for the Chinese tech giant.
November 15, 2024 | 12:00 pm
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Alibaba's shares rose by 3% in premarket trading after the company reported a significant 58% increase in profits, reflecting strong financial health.
The 58% increase in profits is a strong indicator of Alibaba's financial performance, leading to a 3% rise in premarket trading. This positive earnings report is likely to boost investor confidence and drive the stock price up in the short term.
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