China

Alibaba’s first quarter revenue surges as competition among China’s big internet firms ramps up amid shifting regulatory landscape




E-commerce giant Alibaba Group Holding reported a 34 per cent increase in revenue for the quarter ended June 30 as competition among China’s big internet companies ramps up amid a shifting regulatory landscape.Alibaba on Tuesday posted lower-than-expected revenue of 205.7 billion yuan (US$31.8 billion) in its fiscal first quarter, compared with 153.7 billion yuan in the same quarter last year.The figure was lower than the consensus from analysts’ estimates compiled by Bloomberg, which was for…



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