The tech giant s cloud division turned profitable for the first time in fiscal Q3.
The NYSE-listed shares of Alibaba closed more than 0.5% down on Friday.
China fined its eCommerce giant Alibaba Group Holding Ltd (NYSE: BABA) a record £2.0 billion on Saturday after an investigation found it in breach of the anti-monopoly regulations. The investigation concluded that Alibaba has, for several years, abused its dominant position in the market, resulting in a fine that translates to 4% of its domestic revenues in 2019.
The NYSE-listed shares of Alibaba closed the regular session more than 0.5% down at £162.90 per share on Saturday. In comparison, the Chinese multinational technology company had started the year 2021 at a per-share price of £166.21 after touching a high of £197.56 per share in the third week of February.
China slaps Alibaba a record £2 0 billion fine on
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China fines Alibaba record Sh292 4billion for anti-monopoly violations
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China fines Alibaba record $2 75 billion for anti-monopoly violations - aysor am
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