Alibaba's Q2 revenue jumps 34% amid surge in online shopping

Aug 21, 2020 2:10 am

China's e-commerce giant Alibaba Group Holding Ltd. on Thursday said its revenue jumped 34 percent year on year in the first quarter of its fiscal year 2021 (April-June 2020) fueled by strong online shopping demand amid the COVID-19 curbs. 

Alibaba's revenue totaled 153.75 billion yuan (22.22 billion U.S. dollars) in period which counts as the second quarter (Q2) of 2020.

The performance beat Bloomberg's estimation that Alibaba would record a revenue of about 148.06 billion yuan in Q2 2020, an increase of 28.8 percent year on year.


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