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.