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Alibaba quarterly revenue flat for first time ever in June

Chinese e-commerce giant Alibaba reported flat revenue growth on Thursday for the first time ever, as the country grappled with an economic slowdown and Covid-19 resurgences kept consumers jittery. Revenue came in at 205.6 billion yuan (30.7 billion dollars) in the April-June quarter, beating analyst expectations despite being slightly below the...

Aug 4, 2022