Alibaba reports 1st operating loss as a public company

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Alibaba reports 1st operating loss as a public company

timestampMay 13, 2021 authorAlShorts Web Desk

Alibaba said it achieved one billion annual active consumers globally during this fiscal year. The Chinese e-commerce giant, however, also reported its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine. "Our overall business delivered strong growth on a healthy foundation, with the Alibaba Ecosystem generating a record US$1.2 trillion in GMV", the company said.

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