ECommerce Giant Alibaba Delivers Solid Quarterly Earnings

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Shares of Alibaba are higher in pre-market trade after the Chinese tech giant delivered quarterly results that beat analyst expectations. Revenue grew 14% year-over-year as China eased its strict covid controls, but there were still some worries about sluggish demand in the country.

Earlier this year Alibaba announced plans to split into six different businesses and CEO Daniel Zhang said the reorganization is quote“beginning to unleash new energy across our businesses.”

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