Alibaba closed the second quarter with profits plummeting by 81%, to 5.37 billion yuan (833 million dollars), compared to 28.77 billion yuan in the same period of 2020. The revenues of the Hangzhou group, mainly generated from e-commerce operations, they reached - a note reads - 200.7 billion yuan (+ 29%), more or less in line with the growth rates of previous years and just under 204, billion .
Alibaba's accounts were particularly expected in the midst of Beijing's squeeze on the country's tech giants.
Alibaba (-5.34% in Hong Kong) sells 7.94% in pre-opening on Wall Street.
