Alibaba quarterly revenue grows at slowest pace on record as business in China remains hobbled by tightened regulation, weak consumer spending

Source: Tech – South China Morning PostE-commerce giant Alibaba Group Holding on Thursday reported a 10 per cent revenue increase in the three months ended December 31, marking the company’s slowest sales growth since it went public in 2014, as Beijing’s scrutiny of Big Tech firms continued and consumer spending remained weak amid recent outbreaks of Covid-19 across the country.The Hangzhou-based company, parent of the South China Morning Post, said total revenue in the December quarter reached 242.58 billion yuan (US$38.07 billion)…Read More

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