Alibaba beats quarterly revenue estimates

alibaba

Alibaba beats quarterly revenue estimates

(Reuters) – China’s Alibaba Group Holding Ltd beat estimates for quarterly revenue on Thursday, as its core e-commerce business continued to grow following China’s emergence from the coronavirus lockdown.

Revenue rose 30% to 155.06 billion yuan in the quarter ended Sept. 30, compared to estimates of 154.74 yuan, according to IBES data from Refinitiv.

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Reporting by Munsif Vengattil; Editing by Shinjini Ganguli

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