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Chinese E-commerce giant Alibaba warns on coronavirus

by LLB Editor
14th Feb 20 9:40 am

The online shopping platform Alibaba saw its revenue rise by 38% in the third quarter.

But it has warned that many of its businesses were likely to see revenues fall this quarter due to the effects of the coronavirus.

“China’s e-commerce giant Alibaba – which is a barometer for the Chinese consumer market – reported pretty impressive results last night for the previous quarter but warned they are going to see a fall in revenues this quarter,” BBC Business reporter Mariko Oi told Wake up to Money.

“At the same time, they are having to hire tens of thousands of more people because millions remain in lockdown at home there’s a lot more demand for these delivery services as well. “

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