Chinese e-commerce giant Alibaba beats Q4 revenue estimates, but profit slumps
Yahoo Finance -

(Reuters) -China's Alibaba Group Holding beat analysts' estimates for fourth-quarter revenue on Tuesday, as a focus on low-cost goods in response to cautious consumer spending helped boost domestic e-commerce sales. Consumers in China have been spending carefully after the COVID-19 pandemic amid an economic slowdown and property slump. Alibaba's domestic commerce arm, Taobao and Tmall Group, grew 4% year-over-year with order volume increasing double-digits.

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