Alibaba vows to ‘pay attention to’ new regulations as it reports lower-than-expected first-quarter revenue growth

Source: Tech – South China Morning PostE-commerce giant Alibaba Group Holding reported a lower-than-expected 34 per cent increase in quarterly revenue as the company vowed to “pay full attention to” the new regulatory landscape that has rattled China’s Big Tech sector.Alibaba on Tuesday posted revenue of 205.7 billion yuan (US$31.8 billion) in its fiscal first quarter ended June 30, compared with 153.7 billion yuan in the same quarter last year. The figure was lower than the consensus from analysts’ estimates compiled by Bloomberg,…Read More

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