Alibaba Group posts its first loss since IPO
… as is massive anti-trust fine imposed by Chinese regulator for monopolistic practices CEO Daniel Zhang eats humble pie... … but stresses intent to double-down on cloud investments China's Alibaba group has just announced its first quarterly loss since it became a listed company in 2014. In a conference call to investors following the disclosure, Daniel Zhang, the Chairman and CEO explained why. It's down to two factors; the fallout from Jack Ma getting on the wrong side of the Politburo and a major cloud customer taking its business elsewhere. The global pandemic barely gets a mentio...
Source: telecomtv.com