Alibaba reports first operating loss as a public company
The Star Online - Tech·2021-05-13 21:00
(Reuters) -China's top e-commerce platform Alibaba Group Holding Ltd on Thursday reported its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine.
Its U.S.-listed shares fell more than 3% in volatile premarket trading, even as the company forecast 2022 revenue above market expectations, betting that the broader pandemic-driven shift to online shopping will remain resilient.
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