BEIJING: China's Alibaba Group Holding Ltd on Friday (May 22) reported fourth-quarter revenue and profit that topped market expectations, as the Covid-19 (coronavirus) lockdowns drove more people to shop online for essentials.
As people stayed indoors and brick-and-mortar stores remained shut during the health crisis, online orders surged, with the company's core commerce business rising nearly 19% to 93.87 billion yuan (US$13.16 billion) in the quarter.
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