Alibaba reports first quarterly operating loss since public listing after swallowing record fine, revenue beat expectations

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China's e-commerce giant Alibaba Group Holding Limited swung to a loss for the first time since going public in 2014 in its fiscal fourth quarter after swallowing a record fine by China’s antitrust regulators, but reported sales that beat market expectations as retail consumption in its home market grew amid economic recovery.

The company reported a loss of 7.65 billion yuan ($1.185 billion), after accounting for 18.2 billion yuan in fines to the State Administration for Market Regulation (SAMR).

Sales jumped 64 per cent to 187.4 billion yuan . . .

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