Alibaba beats quarterly revenue estimates
Reuters11-25
Alibaba beats quarterly revenue estimatesNov 25 (Reuters) - Chinese e-commerce giant Alibaba 9988.HK, BABA.N beat analysts' estimates for quarterly revenue on Tuesday, as investments in one-hour delivery helped drive more users to its shopping apps, while its cloud division reported strong growth.
The company reported revenue of 247.80 billion yuan ($34.97 billion) in the second quarter, compared with the estimates of 242.65 billion yuan, according to data compiled by LSEG.
($1 = 7.0853 Chinese yuan renminbi)
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Anil D'Silva)
((HarshitaMary.Varghese@thomsonreuters.com;))
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