NEW YORK/HONG KONG -- Chinese conglomerate Alibaba Group Holding on Thursday reported a better-than-expected quarter with a strong rebound from coronavirus impacts, easing anxieties about the mounting pressure it faces from both domestic rivals and Washington.
Alibaba, which is listed in New York and Hong Kong, reported a revenue of 153.6 billion yuan ($21.7 billion) for the April-June quarter -- a 34% jump on the year -- topping the consensus of 147.77 billion yuan as polled by Refinitiv. Net profit was 47.59 billion yuan, ahead of estimates of 36.04 billion yuan.
