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Alibaba on Thursday beat expectations for fourth-quarter revenue, as growing demand for some of its niche online shopping services in China offset weakness at its main marketplaces caused by the country’s COVID-19 lockdowns.
US-listed Alibaba shares, which have lost roughly a third of their value so far this year, were up about 5 percent in premarket trading.
Alibaba Beats Revenue Estimates Amid COVID-19 Lockdown in China comes via ChinaTechNews.com.