Alibaba Takes a Step Toward Comeback as Growth Finally Returns

(Bloomberg) — Alibaba Group Holding Ltd. returned to growth across all its main divisions, defying China’s economic turbulence to take a first step toward a long-awaited comeback after more than a year of malaise.

China’s online shopping leader, a proxy for consumer demand, reported a better-than-expected 14% rise in revenue during a quarter when the world’s No. 2 economy struggled to gain momentum after years of pandemic restrictions. Its shares jumped more than 3% in pre-market trading.