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Alibaba Posts Quarterly Beat as Pandemic Drives [Video]

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Video Credit: The Street – Duration: 02:14s – Published

Alibaba Posts Quarterly Beat as Pandemic Drives Online Sales

Alibaba Posts Quarterly Beat as Pandemic Drives Online Sales

Alibaba reports a surge in sales for its fiscal fourth quarter thanks to lockdown measures that kept Chinese consumers indoors even longer than in the U.S.

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Reports of rising retail sales suggest Chinese consumers have shaken off coronavirus worry, but the recovery is by no means complete, and spending that has grabbed headlines masks a deeper malaise