Alibaba’s Sales Surge Overshadowed by First Operating Loss As Public Firm After $2.8 Billion Antitrust Fine
The e-commerce giant posted an expectations-beating 64% surge in quarterly revenue of 187.4 billion yuan ($28.6 million). (Source: Sinatech) Chinese tech and e-commerce giant Alibaba Group Holding fell into loss-making territory for the first time since going public in 2014 after being slapped a massive anti-monopoly fine by regulators.The record 18.23 billion yuan ($2.8 billion)…