Alibaba earns 50% less in its first fiscal quarter affected by the outbreak of Covid in China – Planet Storyline

The Chinese e-commerce giant Alibaba obtained a net profit of 22,739 million yuan (3,306 million euros) in its first fiscal quarter, 50% less than in the same period of the previous year. The group's turnover between April and June amounted to 205,555 million yuan (29,850 million euros), a figure almost identical to that registered a year ago, when it reached 205,740 million yuan (29,873 million euros). In its income statement, sent to the Hong Kong Stock Exchange, where it is listed, the firm's financial director, Tony Xu, cited the "challenges presented by the Covid-19 outbreaks", despite which the company "achieved…