Alibaba earnings beat forecast, warns revenue to take hit from coronavirus outbreak

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Alibaba Group sees its earnings in the third quarter beat analyst estimates and brought in record transactions for its annual Singles’ Day shopping event. But it warned its earnings in the next couple of quarters are certainly likely to take a hit from the coronavirus outbreak.

Its total revenue rose about 38 per cent to 161.46 billion yuan in the quarter ended December 31, beating estimates of 159.28 billion yuan. Net income attributable to ordinary shareholders rose to 52.31 billion yuan from 33.05 billion.

Sales in Alibaba’s core commerce business . . .

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