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Business and Economic News has reported its first quarterly loss since Alibaba made its sale
Despite the loss, China’s leading e-commerce platform forecast revenue in 2022 above market targets, betting that the pandemic aimed at online shopping will continue to be resilient.
Alibaba Group Holding Ltd of China’s main e-commerce platform on Thursday unveiled its first operating loss in the quarter since 2014, when the country’s regulatory market set a record for antitrust fines.
Shares listed in the U.S. fell nearly 3 percent in inappropriate trading, even as the company projected high revenues in 2022, betting that the changes in the coronavirus pandemic to online shopping will remain resilient.