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  • Alibaba Group beat estimates for quarterly revenue on Thursday.

  • Ah welcome shot of positive news perhaps, after China's decision to suspend a record Shanghai listing of affiliate ant group, halting the $37 billion public offering was viewed by many a za Beijing's move to cut founder Jack Mars Financial services empire down to size.

  • Alibaba's core e commerce business continued to grow following China's emergence from lockdowns.

  • The results also coincide with the U.

  • S presidential elections.

  • Under Donald Trump's presidency, the world's top two economies have clashed often over trade.

  • That's forced Chinese companies to put off listings or return to exchange is closer to home, some analysts.

  • Topa new administration could move to ease tensions Revenue at Alibaba's cloud computing business jumped 60% to ¥14.9 billion or $2.25 billion.

  • Sales at its core e commerce business rose 29% to $19.8 billion in the reported quarter.

  • Alibaba's chief executive Daniel Zhang said during an earnings call that the company is evaluating the impact of the ant group.

Alibaba Group beat estimates for quarterly revenue on Thursday.

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