BENGALURU (Reuters) - China's Alibaba Group Holding Ltd missed analyst estimates for first-quarter revenue on Tuesday, as its e-commerce business was hurt by rising competition from smaller players such as JD.Com Inc and Pinduoduo Inc.
Alibaba's results mirror those of e-commerce giant Amazon.com Inc in the United States, as the easing of pandemic-related restrictions has led to more consumers visiting physical stores rather than ordering online.
Already a subscriber? Log in.
Get 30% off with our ads free Premium Plan!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
