Alibaba Beats Q3 Profit Forecast On Anecdote Singles Day and Cloud Computing Revenues

Alibaba Beats Q3 Profit Forecast On Anecdote Singles Day and Cloud Computing Revenues

Alibaba Group Holding Co. (BABA) – Get Report posted stronger-than-expected third quarter earnings Thursday after a record Singles Day shopping event and rising cloud computing revenues helped boost profits for Asia’s biggest tech company.Shares in the group dipped lower, however, after CEO Daniel Zhang called the ongoing coronavirus outbreak a “black swan” event that will have a “significant…

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