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Tuesday, September 22nd, 2020

Alibaba beats quarterly revenue estimates


China’s Alibaba Group Holding Ltd reported better-than-expected second-quarter revenue on Friday, powered by strong growth in its core e-commerce business, Trend with reference to Reuters reports.

Revenue rose to 119.02 billion yuan ($16.91 billion) for the second quarter ended Sept. 30 from 85.15 billion yuan a year earlier. Analysts were expecting revenue of 116.8 billion yuan, according to IBES data from Refinitiv.

Source: Kyrgyz National News Agency