Alibaba beats quarterly revenue estimates

(Reuters) – China’s Alibaba Group Holding Ltd beat estimates for quarterly revenue on Thursday, as its core e-commerce business continued to grow following China’s emergence from the coronavirus lockdown.

Revenue rose 30% to 155.06 billion yuan in the quarter ended Sept. 30, compared to estimates of 154.74 yuan, according to IBES data from Refinitiv.

(Reporting by Munsif Vengattil; Editing by Shinjini Ganguli)