Alibaba posts first operating loss as public company
Record fine by the country's market regulator weighs on China’s top e-commerce group's earnings
13 May 2021 - 20:19
Shanghai — China’s top e-commerce platform Alibaba Group 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 US-listed shares fell nearly 3% in choppy trading, even as the company forecast strong 2022 revenue, betting that the pandemic-driven shift to online shopping will remain resilient...
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