Alibaba beats quarterly revenue estimates


Exterior of Alibaba Group Beijing Headquarters on November 10, 2019 in Beijing, China.

VCG | Visual China Group | Getty Images

China’s Alibaba beat quarterly revenue and profit estimates on Thursday, as its core commerce and cloud computing businesses benefited from the coronavirus-led shift to online shopping and working from home.

The company’s U.S.-listed shares inched up, adding to their 23% gain this year.

The results come as U.S.-listed Chinese companies face renewed heat and President Donald Trump has said he could exert pressure on more Chinese companies after he moved to ban TikTok, owned by China’s ByteDance.

The White House has been piling pressure ahead of the presidential…

Source cnbc.com

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