<<What We Learned from China's Tech Earnings, From Alibaba to Tencent

▪️ Baidu, Alibaba and Tencent all reported 4Q revenue beats
▪️ Investors bullish thanks to solid earnings, eased regulations

ByJeanny Yu
March 28, 2023, 2:23 AM UTC

A raft of sales beats from some of China’s largest tech firms and signs of a more relaxed regulatory environment are giving bulls new reasons to be optimistic.

The nation’s three internet leaders — Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. — all reported revenue that came in ahead of analysts’ consensus for the final quarter of 2022, aided by a recovery in advertising. Alibaba co-founder Jack Ma’s return to China — after more than a year abroad having irked Beijing — was perceived by some as another indication of the regulatory setting shifting for the better.

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https://www.bloomberg.com/news/articles/2023-03-28/china-bulls-see-reasons-for-upside-as-sales-beat-tech-watch