Caixin
Jan 31, 2019 02:08 AM
BUSINESS & TECH

Alibaba Posts Smallest Revenue Gain Since 2016

Alibaba booked the slowest quarterly revenue growth in three years but beat earnings estimates. Photo: VCG
Alibaba booked the slowest quarterly revenue growth in three years but beat earnings estimates. Photo: VCG

China’s e-commerce giant Alibaba Group Holding Ltd. reported a 41% rise in quarterly revenue, the slowest growth since 2016, reflecting tightening purse strings as the world’s second-largest economy cools.

Hangzhou-based Alibaba reported revenue for the quarter ended Dec. 31 of 117.3 billion ($17.1 billion), slightly lower than the 119.4 billion yuan average estimate of analysts in a Bloomberg survey.

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