Tuesday, November 29, 2022

Alibaba Group Quarterly Earnings Highlights

Alibaba Group recently announced that its third-quarter revenue rose 10 percent year-over-year and consumers in its ecosystem swelled to 1.28 billion globally.

Budding businesses, including value-for-money app Taobao Deals and community marketplace business Taocaicai, gathered momentum. Their operating losses are set to shrink in coming months, showing Alibaba’s investment initiatives are bearing fruit.

The e-commerce giant’s annual active consumers (AACs) inside China climbed to 979 million and outside China to 301 million, quarterly net increases of over 26 million and 16 million, respectively.

Visit https://www.alibaba.com

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