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SoftBank Vision Fund set for new portfolio champion with Coupang IPO
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SoftBank Vision Fund set for new portfolio champion with Coupang IPO
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Baidu | Benzinga
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Alibaba beats quarterly revenue estimates on online boom
Reuters
February 3 |
Updated on
February 03, 2021
Revenue rose 37 to $34.24 billion in the three months ended December 31
China’s Alibaba Group Holding Ltd beat Wall Street estimates for third-quarter revenue on Tuesday, as its e-commerce business benefitted from switch to online shopping triggered by the Covid-19 pandemic.
The results come as China clamps down on founder Jack Ma’ssprawling business empire, having forced the suspension of a blockbuster $37 billion IPO for Alibaba’s financial affiliate Ant Group.
Ma made his first public appearance in three months in January, helping allay investor concerns and boosting shares of Alibaba.