Alibaba posts zero quarterly revenue growth as weak economy weighs

HONG KONG — Alibaba Group Holding’s revenue was almost unchanged at 205.56 billion yuan ($30 billion) in the April to June period the e-commerce company reported Thursday, as it was stung by a two-month COVID-19 lockdown in Shanghai that slowed China’s economy.

But the result beat the average revenue forecast of 203.2 billion yuan by 23 analysts surveyed by Refinitiv.