Alibaba, Tencent beat forecasts, auguring well for China’s earnings
Strong financial results by the two companies are the touchstones of the earnings growth that global investors are looking for, as they debate whether China’s post-pandemic recovery was a flash in the pan.
- Alibaba Group Holding, one of the world’s largest e-commerce platforms, reported a 10 per cent jump in net profit, its biggest annual growth since 2021
- Net profit at Tencent Holdings, the world’s largest games publisher, jumped by 62 per cent, comfortably beating the consensus forecast compiled by Bloomberg