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Alibaba Reports Loss Due to Antitrust Fine
Women s Wear Daily (WWD) 5/13/2021 Tianwei Zhang
LONDON Alibaba Group on Thursday released results for the quarter and fiscal year ended March 31 that showed an operating loss for the first time as a public company as a result of the historic $2.78 billion fine imposed by China’s State Administration for Market Regulation pursuant to its monopolistic behaviors.
Alibaba reported a loss of 7.66 billion renminbi, or $1.17 billion in the quarter, a first since 2012. Excluding this one-time impact, however, its income from operations would have jumped 48 percent year-over-year to 10.56 billion renminbi, or $1.61 million.
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