ALIBABA RECORDS FIRST QUARTERLY OPERATING LOSS SINCE IPO
Techlife News|Techlife News #498
Alibaba had its first quarterly operating loss since it went public in 2014 after Beijing slapped a record $2.8 billion fine on the nation’s largest e-commerce company for abusing its market position.

The loss tied to the anti-monopoly fine was 7.66 billion yuan ($1,170 million) for the quarter that ended in March, though revenue growth was 64%, reaching 187.4 billion yuan ($28.6 million).

At the opening bell on the NYSE Thursday, shares tumbled more than 6%.

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