Alibaba’s stock jumps after a profit beat, with the AI business extending its streak of triple-digit percentage growth.

Alibaba Group shares traded in the U.S. were lower in Friday morning trading after the Chinese ecommerce giant posted higher-than-expected quarterly earnings but revenue was lower than Wall Street anticipated.

Alibaba fell early Friday, after the Chinese e-commerce giant reported mixed fiscal second quarter results. Earnings beat estimates but sales came in light, despite strong performances from the company's international retail division and its AI cloud business.