Alibaba achieved sales growth of 2 per cent in the final quarter of last year, despite zero-Covid lockdowns paralysing much of China during the period.
The Chinese ecommerce giant reported adjusted net income rose 12 per cent from a year earlier to Rmb50bn ($7.2bn) on the back of Rmb248bn of revenue, above analysts’ estimates.
“This past quarter, our business and operations experienced significant challenges due to the rapid change in the Covid situation,” said chief executive Daniel Zhang, noting the group had seen a sales uptick starting in February.
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