Reported 1 day ago
Ant Group Co. saw its quarterly profit soar over 50 times due to a significant investment gain, contributing approximately 4.49 billion yuan ($618 million) to Alibaba's earnings. This surge comes as the sentiment towards China's tech sector improves, notably following Jack Ma's recent public appearances and discussions on the company's future amid a backdrop of regulatory changes and a new focus on artificial intelligence. Despite challenges, Ant is also expanding internationally and has made structural changes to prepare for future growth.
Source: YAHOO