Business & Finance

Alibaba beats quarterly revenue estimates

Published Updated

Revenue rose to 114.92 billion yuan ($16.32 billion) in the first quarter ended June 30 from 80.92 billion yuan, a year earlier.

Analysts had expected revenue of 111.73 billion yuan, according to IBES data from Refinitiv.

Net income attributable to ordinary shareholders was 21.25 billion yuan.

Copyright Reuters, 2019