Alibaba reports first quarterly loss since going public Al Jazeera English © Alibaba forecast annual revenue to be 930 billion yuan ($144.12bn) for the fiscal year ended March 2. Alibaba forecast annual revenue to be 930 billion yuan ($144.12bn) for the fiscal year ended March 2022, above analysts average estimate of 928.25 billion yuan ($143.83bn) [File: Thomas Peter/Reuters]
China’s top e-commerce platform Alibaba Group Holding Ltd on Thursday posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country’s market regulator.
Its United States-listed shares fell nearly 3 percent in choppy trading, even as the company forecast strong 2022 revenue, betting that the coronavirus pandemic-driven shift to online shopping will remain resilient.
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