Alibaba revenues fall short of estimates as further regulatory crackdown looms

Alibaba faces legal action over counterfeit goods

Alibaba reported an increase in sales but a fall in income as annual active consumers across the world reached over 1 billion for the first time.

Revenue across the Chinese retail group’s vast ecosystem increased by 34% to reach RMB205.7bn ($31.87bn) in its first quarter of the year (the quarter to the end of June). This was below the average market estimate of RMB209bn, according to a survey of analysts by Refinitiv.

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