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China's Alibaba beats quarterly revenue estimates
May 14, 2024 4:09 AM

May 14 (Reuters) - China's Alibaba Group Holding ( BABA )

on Tuesday beat analysts' estimates for fourth-quarter

revenue, as a focus on low-cost goods in response to cautious

consumer spending helped boost domestic e-commerce sales in the

three-month period.

The company reported revenue of 221.87 billion yuan ($30.66

billion)in the three months ended March 31, compared with a

consensus estimate of 219.66 billion yuan, according to LSEG

data.

($1 = 7.2355 Chinese yuan renminbi)

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