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What Downturn? Alibaba Reports Steady Results Amid Global Tumult

Revenue exceeded the highest of analysts’ projections
Alibaba and JD are benefiting from resilient online retail

Hari Srinivasan, senior research analyst at Neuberger Berman, talks about Alibaba Group’s results and outlook. (Source: Bloomberg)

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By Lulu Yilun Chen

August 15, 2019 at 11:10 AM UTC

Updated on

August 15, 2019 at 10:00 PM UTC

This article is for subscribers only.

Forget the world’s chaos for a moment. Alibaba Group Holding Ltd. is doing just fine.

Despite a trade war, the slowing domestic economy and brutally aggressive competition, China’s largest technology company reported revenue and profit numbers that handily beat analyst estimates. Revenue rose a blazing 42%, while net income more than doubled. Shares popped 3% in U.S. trading.