Alibaba Offers Few Answers as Crackdown Uncertainty Persists
- Company is communicating with regulators on antitrust probe
- Sales rose at a faster-than-expected pace in December quarter
The Tao Doll mascot at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Alibaba Group Holding Ltd. offered investors few clues into how the regulatory crackdown on Jack Ma’s tech empire will impact its future growth after reporting a stronger-than-expected 37% increase in quarterly sales.
The e-commerce giant has established a special taskforce to conduct internal reviews and is actively communicating with antitrust regulators on complying with their requirements as investigations continue, Alibaba said Tuesday. It’s also unable to make a complete assessment of how the ongoing “rectification” of affiliate Ant Group Co. will affect its business, according to the statement.