Alibaba posts solid revenue ahead of shopping festival
World BusinessNov 5, 2020
SHANGHAI (AFP) -- Chinese e-commerce leader Alibaba on Thursday reported solid 30 percent year-on-year revenue growth for the July-September quarter, providing some much-needed good news amid turmoil over its Ant Group affiliate's abandoned IPO. Hangzhou-based Alibaba said revenue -- a key measure of the internet giant's business health as well as overall Chinese consumer spending -- rose to 155 billion yuan ($23 billion).The announcement comes ahead of China's November 11 "Single's Day&qu