Alibaba Group Holding Ltd. (NYSE: BABA) has increased its share buyback allocation by $25 billion and secured early wins in its fight to attract merchants and buyers in the Chinese commerce arena. A recent quarterly earnings report from the holding company revealed that Alibaba’s marketplaces in China saw a surge in transacting merchants and buyers in the last three months of 2023. This increased economic activity increased Alibaba’s third-quarter revenue by 5% year-over-year.
The Chinese holding company also announced that its cloud-computing business revenue increased by 3% year-over-year after…
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