Alibaba reports Q3 revenue up 3% to ~$29B, slightly above estimates, and a surprise ~$2.9B net loss, compared to an expected ~$2.6B profit (Jane Zhang/Bloomberg)

Jane Zhang / Bloomberg:

Alibaba reports Q3 revenue up 3% to ~$29B, slightly above estimates, and a surprise ~$2.9B net loss, compared to an expected ~$2.6B profit  —  Alibaba Group Holding Ltd. reported a surprise loss after quarterly revenue barely grew, as China’s rigid Covid controls continue to sap consumer sentiment.

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