Alibaba returns to profit growth for first time since 2020

Alibaba Group Holding Ltd.’s profit surged a better-than-anticipated 69% after China’s ecommerce leader reined in spending and narrowed losses abroad, taking steps to make up for anemic growth in a COVID-struck home market. Alibaba revenue rose 2.1% to 247.76 billion yuan in the December quarter. The bottom-line gains partly reflect deep cost cuts at a […] The post Alibaba returns to profit growth for first time since 2020 appeared first on Digital Commerce 360.