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China tech

Alibaba skips earnings guidance as chairman warns of 'uncertainties'

Revenue in March quarter beats estimates, but growth still at record low

Alibaba quarterly revenue rose but its share price is down by a third so far this year.   © Reuters

HONG KONG -- Alibaba Group Holding's growth in the new fiscal year faces uncertainties both at home and abroad as China fights a COVID-19 resurgence and Southeast Asia tries to recover from the pandemic, top management at the Chinese e-commerce leader said Thursday.

In a conference call with analysts, Daniel Zhang, Alibaba's chairman and CEO, said domestic businesses have been significantly affected by the COVID-19 outbreaks since mid-March, particularly in Shanghai, leading to low-single-digit declines in revenue growth in April compared with the same period last year.

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