Online sales remained weak this year through early February, Alibaba CEO Daniel Zhang said during a quarterly earnings call.
However, he said some categories started to see a recovery this month, and said businesses want to work hard to recover from the losses of the last three years.
The company operates two of the largest online shopping sites in China, Taobao and Tmall. Despite a rise in competition, Alibaba's results remain an important indicator on the economy.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China, ASEAN to intensify negotiations on South China Sea codeNegotiations on a code of conduct (COC) for the South China Sea will be intensified this year, Indonesian and Chinese officials said on Wednesday, as the region frets over China's assertiveness in the strategic waterway.
Read more »
Alibaba stock rallies after earnings beatAlibaba Group Holding Ltd.'s U.S.-listed shares were headed 5% higher in premarket trading Thursday.
Read more »
Alibaba shares rally 6% after massive earnings beatAlibaba reported earnings for its fiscal third quarter that smashed expectations, sending shares soaring 6% higher.
Read more »
Alibaba and Nvidia shares climb after results; Lucid stock slumps on delivery outlookAlibaba, Nvidia and Lucid are some of the most active premarket stocks.
Read more »
Alibaba beats quarterly revenue estimates as COVID curbs easeAlibaba Group Holding Ltd reported better-than-expected quarterly revenue on Thursday, as the Chinese e-commerce giant benefited from the country easing COVID-19 curbs.
Read more »