Alibaba decides against fiscal outlook amid slowest revenue growth

• The revenue growth was the slowest since the company went public in 2014

Chinese ecommerce giant Alibaba Group Holding Limited (NYSE: BABA) on Thursday decided to back off from forecasting outlook for the current fiscal year as it reported slowest quarterly revenue growth since 2014.

The company said its business was deeply impacted due to the lockdowns imposed in China with the resurgence of Covid-19.

The revenue grew 9% to 204.05 billion yuan, or $30.35 billion, in the quarter ended March, beating analysts’ expectations of 199.25 billion yuan, according to Refinitiv data. The revenue growth was the slowest since the company went public in 2014.