Alibaba Group Posts $1.17 Billion USD Loss in Q1

Chinese retail giant Alibaba Group announced its March quarter and full fiscal year 2021 results on Thursday, noting $1.17 billion USD in losses blamed on a hefty fine imposed by the Chinese government.The company noted that its number of annual active consumers on its China retail marketplace was 811 million for 12 months that ended on March 31, 2021, a boost of about 32 million since the end of last year.The company lost $1.17 billion USD from operations in the wake of a $2.78 billion USD fine...