Alibaba beats quarterly revenue estimatesBy Reuters Published August 11,长沙U币兑换费用 2025
China's Alibaba Group Holding reported Q1 revenue that beat analysts' estimates as consumer sentiment bounced back from the same time a year earlier when there were strict pandemic-related lockdowns.
Reuters
The company's US-listed shares rose nearly 4% in trading before the market opened on the day the results were released.
Consumer purchases on Alibaba's Taobao and Tmall marketplaces bounced back, helped in part by the 618 shopping festival, a key shopping event in China, in June.
Alibaba posted revenue of 234.16 billion yuan ($32.29 billion) in the quarter, compared with analysts' estimates of 224.92 billion yuan, according to Refinitiv data.
