China’s Alibaba Group Holding reported second-quarter revenue on Thursday that was in line with analysts’ estimates as the country’s retail sector recovers from the effects of pandemic-fueled lockdowns.
The Chinese e-commerce giant posted revenue of 224.79 billion yuan ($31.01 billion) in the quarter, compared with analysts’ average estimate of 224.32 billion yuan, according to LSEG data.
By Akash Sriram
Alibaba Banks on Aggressive Singles Day Pricing to Recoup Sales Mojo
China’s Alibaba is pressuring merchants to offer rock-bottom prices on its marketplaces in this year’s Singles Day extravaganza.