Alibaba beats quarterly revenue expectation
Revenue rose to 187.4 billion yuan ($29.03 billion) in the three months ended March 31, higher than 180.41 billion yuan forecast by 30 analysts compiled by Refinitiv
Affiliate Ant Group Co, the other pillar of billionaire Jack Ma’s internet empire, was also summoned to a high-level meeting over financial regulations Photo: Collected
China's top e-commerce platform Alibaba Group Holding Ltd reported a forecast-beating 64% surge in quarterly revenue on Thursday, as more people shopped online due to the coronavirus pandemic.
Revenue rose to 187.4 billion yuan ($29.03 billion) in the three months ended March 31, higher than 180.41 billion yuan forecast by 30 analysts compiled by Refinitiv.
($1 = 6.4545 Chinese yuan renminbi)
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