Alibaba beats estimates on record Singles' Day sales
Share:
(Reuters) - China's Alibaba Group Holding Ltd beat analysts' estimates for quarterly results on Thursday, driven by record sales during its annual Singles' Day shopping blitz and demand for its cloud computing business.The e-commerce giant usually reports its highest revenue in the December quarter due to its mega "Singles' Day" shopping bonanza in November. The company said sales during the 24-hour shopping event hit a record $38.4 billion in 2019.Alibaba primarily generates revenue by selling..