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Alibaba Group Holding sales beat estimates as regulatory headwinds loom

Net income attributable to shareholders rose 52 per cent to 79 billion yuan

Alibaba Group | Jack Ma | China


Alibaba. Photo: Bloomberg

Holding’s sales rose at a faster-than-expected pace, offering a much-needed boost for the company grappling with a regulatory crackdown on Jack Ma’s tech empire.

Revenue climbed 37 per cent to 221.1 billion yuan ($34.2 billion) in the three months ended December, compared with the 215.3 billion yuan average of analyst forecasts. Net income attributable to shareholders rose 52 per cent to 79 billion yuan.

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First Published: Wed, February 03 2021. 01:46 IST