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Alibaba posts loss, slower revenue amid lower consumption

Por: Associated Press Tech November 18, 2022

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HONG KONG (AP) — Chinese e-commerce company Alibaba Group on Thursday posted net losses and missed market expectations for revenue in its quarter ended September amid a slowing economy and depressed consumer sentiment.The company reported net losses of 20.6 billion yuan ($2.87 billion) that it said was due to falling market prices of its equity investments in listed companies.Revenue grew 3% compared to the same time last year to 207.2 billion... + full article



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