Alibaba Beats Revenue Estimates Amid COVID-19 Lockdown in China

Alibaba Beats Revenue Estimates Amid COVID-19 Lockdown in China

Alibaba on Thursday beat expectations for fourth-quarter revenue, as growing demand for some of its niche online shopping services in China offset weakness at its main marketplaces caused by the country’s COVID-19 lockdowns. US-listed Alibaba shares, which have lost roughly a third of their value so far this year, were…