Alibaba beats quarterly estimates, sales growth near pre-pandemic levels

Alibaba beats quarterly estimates, sales growth near pre-pandemic levels

The logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 10, 2019. REUTERS/Aly Song

Alibaba Group Holding Ltd.’s quarterly revenue grew better than expected 34%, signaling that Chinese consumer sentiment is recovering at a rapid clip from its Covid-19 trough.

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