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Alibaba records first quarterly operating loss since IPO
Alibaba records first quarterly operating loss since IPO by Associated Press, The Associated Press Posted May 13, 2021 9:39 am EDT Last Updated May 13, 2021 at 9:44 am EDT HONG KONG (AP) — Alibaba had its first quarterly operating loss since it went public in 2014 after Beijing slapped a record $2.8 billion fine on the nation’s largest e-commerce company for abusing its market position. The loss tied to the anti-monopoly fine was 7.66 billion yuan ($1,170 million) for the quarter that ended in March, though revenue growth was 64%, reaching 187.4 billion yuan ($28.6 million). At the openin...
Source: 680news.com