Ant's parent company Alibaba reports a 37 percent revenue growth in Q4 2020

Chinese e-commerce giant Alibaba Group posted higher-than-expected revenues in the fourth quarter of 2020. The company logged 221 billion yuan (about 34.2 billion U.S. dollars) for the quarter ending December 31 of 2020, a 37-percent surge from the same period of 2019.

The Hangzhou-based company's core e-commerce operations have benefited during the COVID-19 pandemic as more people have turned to online shopping.
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