Alibaba’s share price dipped 2% despite the quarterly revenue growth
Posted On November 4, 2020
Chinese e-commerce leader Alibaba reported a stronger-than-expected revenue for Q3, thanks to a recovery in domestic consumption after the pandemic and the development of cloud computing and data intelligence. Its core e-commerce business contributed 84% of total revenue, amounting to RMB 130.9 billion. Despite the growth, its share price dipped 2% in New York which could have been the result from the suspension of the dual public listing for its fintech arm Ant Group.