HONG KONG/NEW YORK -- With the coronavirus pandemic weighing down operations and investments, Alibaba Group Holding has reported its first quarterly profit decline since 2016.
Tech giant defends accounting practices after first profit drop since 2016
Alibaba shares were down in morning trading Friday on the New York Stock Exchange. © Reuters
HONG KONG/NEW YORK -- With the coronavirus pandemic weighing down operations and investments, Alibaba Group Holding has reported its first quarterly profit decline since 2016.