<p>China's Alibaba Group Holding Ltd beat quarterly revenue estimates on Thursday as its core e-commerce business thrived due to people preferring to shop online for essentials, even as coronavirus-related restrictions eased.</p>.<p>Revenue rose to 153.75 billion yuan ($22.22 billion) in the quarter ended June 30 from 114.92 billion yuan, a year earlier.</p>.<p>Analysts had expected revenue of 147.77 billion yuan, according to IBES data from Refinitiv.</p>
<p>China's Alibaba Group Holding Ltd beat quarterly revenue estimates on Thursday as its core e-commerce business thrived due to people preferring to shop online for essentials, even as coronavirus-related restrictions eased.</p>.<p>Revenue rose to 153.75 billion yuan ($22.22 billion) in the quarter ended June 30 from 114.92 billion yuan, a year earlier.</p>.<p>Analysts had expected revenue of 147.77 billion yuan, according to IBES data from Refinitiv.</p>