Alibaba shares spiked after beating earnings. Chinese door locks still have weight.


reported better-than-expected earnings for the final three months of 2022, although the low revenue growth rate underscores the severity of the prolonged Covid-19 lockdown for the Chinese tech company.


(ticker: BABA) reported earnings of $2.6 billion per U.S. Depository Receipt—a reference to the company’s U.S.-listed stock—on revenue of $35.9 billion, up 2 % on a year-over-year basis, for the December quarter. Earnings beat analysts’ earnings expectations of $2.43 per share, with sales roughly matching estimates.


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