Business & Finance
Alibaba beats quarterly revenue estimates
- Revenue rose 37% to 221.08 billion yuan ($34.24 billion) in the three months ended Dec. 31, above estimates of 214.38 billion yuan, according IBES data from Refinitiv.
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China's Alibaba Group Holding Ltd beat Wall Street estimates for third-quarter revenue on Tuesday, as its e-commerce business benefited from a switch to online shopping triggered by the COVID-19 pandemic.
Revenue rose 37% to 221.08 billion yuan ($34.24 billion) in the three months ended Dec. 31, above estimates of 214.38 billion yuan, according IBES data from Refinitiv.