Alibaba reports first operating loss as a public company

China’s top e-commerce platform Alibaba Group Holding Ltd on Thursday reported its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine.

Its U.S.-listed shares fell more than 3% in volatile premarket trading, even as the company forecast 2022 revenue above market expectations, betting that the broader pandemic-driven shift to online shopping will remain resilient.