E-commerce giant Alibaba Group Holding Ltd's quarterly revenue grew at its weakest pace since 2016, as the impact of a slowing Chinese economy and a crippling Sino-U.S. trade war kept buyers away during its top-sale season. Net income rose 33 percent to 30.96 billion yuan, however, beating estimates and sending Alibaba's stock up by about 1.6 percent in pre-market trade. Alibaba typically posts its highest revenue in the December quarter due to its mega "Singles' Day" in November - the world's biggest online sales event that outstrips the sales of U.S. shopping holidays Black Friday and Cyber Monday combined.
from Yahoo News - Latest News & Headlines https://yhoo.it/2TqZgV9
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