Thursday Tech Briefing: Growth Slows at Alibaba
Chinese 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.
Alibaba said revenue from core commerce rose 40% year-on-year to 102.8 billion yuan ($15.30 billion) in the December quarter. Annual active consumers on its China retail marketplaces reached 636 million, up 35 million from the end of September.
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