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Alibaba announces 2% loss in income due to government fine

Alibaba announces 2% loss in income due to government fine

An image of Alibaba's headquarters in Hangzhou, China.

Qilai Shen/Bloomberg via Getty Images

On Thursday, Alibaba announced its financial results for the fiscal year 2021. The company's operating income decreased 2% compared to last year mainly due to a $2.8 billion anti-monopoly fine in April, according to the company. Alibaba also said it reached one billion global active consumers across products for the first time. Of those, 811 million are Chinese retail customers, who have spent an annual average of $1,404 on Alibaba's online marketplaces.


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