Chinese e-commerce giant Alibaba on reported on Thursday a net Loss attributable to the common shareholders of 20.6 billion yuan ($2.89 billion) for Third quarterwhere the company wrestles with Economic slowdown and antitrust repression.
The loss was primarily due todecrease in market the prices of Our equity investments in Publicly traded companies,” among other factors, the company said in a permit.
Ali Baba performance It is widely seen as a measure of Chinese consumer sentiment, in light of market dominance.
he won for The three months ending September 30th were up 3% year-on-year At 207.2 billion yuan, CFO Toby Xu said it achieved “despite the impact on consumption demand by the resurgence of COVID-19 in China as well as slowing cross-border trade.”
The development This comes after the company earlier year It reported steady quarterly revenue growth for The first time.
China specialty tech companies have faced Economic uncertainty, COVID-19 restrictions that have reduced consumer spending, as well as increased scrutiny from regulators in recent months.
Colleague tech Titan Tencent reported on Wed her second my quarter drop in he won in Row.