Alibaba posted a beat on revenue in its fiscal fourth quater ended March, but the Chinese e-commerce giant’s net profit plunged.
Alibaba posted a beat on revenue in its fiscal fourth quater ended March, but the Chinese e-commerce giant's net profit plunged.posted a beat on revenue in its fiscal fourth quarter ended March, even as the Chinese e-commerce giant's net profit plunged sharply.Revenue: 221.9 billion Chinese yuan versus 219.66 billion yuan expected.corporate structure overhaul
Alibaba has been grappling with cautious consumer spending in China, but saw signs of a slight recovery in its core e-commerce business in the March quarter. Customer management revenue, which are sales received from services such as marketing that Alibaba sells to merchants on its Taobao and Tmall e-commerce platforms, rose 5% year-on-year, after coming in flat in the previous quarter.
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