Alibaba on Thursday flagged plans to invest more in its "core businesses" of e-commerce and AI-powered cloud computing after reporting third-quarter revenues just above analysts' estimates on strong year-end sales.

KEY TAKEAWAYS Shares of Alibaba Group listed in the U.S. are jumping in premarket trading Thursday after the Chinese tech and e-commerce giant reported quarterly results that beat estimates.The company said revenue in its December quarter rose 7.

Alibaba Group Holding on Thursday matched Wall Street expectations for third-quarter revenue, on strong year-end sales, highlighting the success of its strategy to attract cost-conscious consumers. The company's revenue was 280.

China's Alibaba Group Holding on Thursday topped Wall Street expectations for third-quarter revenue, on strong year-end shopping sales and the success of its strategy to attract cost-conscious consumers.