Alibaba has smashed expectations during its fourth quarter seeing revenues and profits soar as lockdown forced shoppers online.
The Chinese ecommerce giant “reported better than expected March quarter results”, after predicting at the end of the previous quarter that it could take a hit from the coronavirus.
Instead of seeing a drop in revenue, Alibaba saw sales in its core retail business jump 19 per cent to 93.87 billion yuan (£10.69 billion), while its cloud computing business saw sales skyrocket 58 per cent.
