BEIJING, Nov 15, 2024 (BSS/AFP) - Chinese tech and e-commerce giant Alibaba on Friday reported moderate revenue growth of five percent in its latest quarter, as Beijing works to stimulate domestic spending. Alibaba's revenue during the three-month quarter ending September 30 totalled 236.5 billion yuan ($32.7 billion), the firm announced in a statement at the Hong Kong Stock Exchange, up five percent from a year ago. But the figure came in lower than a Bloomberg forecast, which had anticipated year-on-year revenue growth of 6.5 percent. Net income attributable to shareholders was at 43.9 billion yuan ($6.1 billion), up 58 percent from the same period in 2023. JD.com posted accelerated third-quarter growth in a filing on Thursday, with revenue up 5.1 percent from the previous year.

Source: Bangladesh Sangbad Sangstha November 15, 2024 14:25 UTC