Alibaba Beats Revenue Estimates Amid COVID-19 Lockdown in China
Alibaba on Thursday beat expectations for fourth-quarter revenue, as growing demand for some of its niche online shopping services in China offset weakness at its main marketplaces caused by the country's COVID-19 lockdowns.US-listed Alibaba shares, which have lost roughly a third of their value so far this year, were up about 5 percent in premarket trading.Revenue in Alibaba's cloud computing division rose 12 percent to 18.97 billion yuan (roughly Rs. 21,845 crore) in the reported quarter. At the core commerce unit, its…