<p>Chinese e-commerce giant Alibaba reported flat revenue growth on Thursday for the first time, as the country grappled with an economic slowdown and Covid-19 resurgences kept consumers jittery.</p>.<p>Revenue came in at 205.55 billion yuan ($30.7 billion) in the April-June quarter, beating analyst expectations despite being slightly below the same period last year following a decline in the company's China commerce segment revenue, Alibaba said.</p>.<p>Alibaba's performance is widely seen as a gauge of Chinese consumer sentiment given its market dominance, but its revenue growth has slowed markedly over the past year.</p>.<p>The company has been grappling with growing competition and economic fallout from strict Covid restrictions that have battered consumer sentiment, pushed the unemployment rate up and tangled supply chains.</p>.<p>"Following a relatively slow April and May, we saw signs of recovery across our businesses in June," added Alibaba Group's chairman and chief executive Daniel Zhang in a statement.</p>.<p>The company's revenue growth was flat "primarily due to a decline in China commerce segment revenue" although this was offset by growth in the cloud segment, Alibaba said.</p>
<p>Chinese e-commerce giant Alibaba reported flat revenue growth on Thursday for the first time, as the country grappled with an economic slowdown and Covid-19 resurgences kept consumers jittery.</p>.<p>Revenue came in at 205.55 billion yuan ($30.7 billion) in the April-June quarter, beating analyst expectations despite being slightly below the same period last year following a decline in the company's China commerce segment revenue, Alibaba said.</p>.<p>Alibaba's performance is widely seen as a gauge of Chinese consumer sentiment given its market dominance, but its revenue growth has slowed markedly over the past year.</p>.<p>The company has been grappling with growing competition and economic fallout from strict Covid restrictions that have battered consumer sentiment, pushed the unemployment rate up and tangled supply chains.</p>.<p>"Following a relatively slow April and May, we saw signs of recovery across our businesses in June," added Alibaba Group's chairman and chief executive Daniel Zhang in a statement.</p>.<p>The company's revenue growth was flat "primarily due to a decline in China commerce segment revenue" although this was offset by growth in the cloud segment, Alibaba said.</p>