Alibaba Q4 revenue up 2%, board approves spinoff of cloud business

Alibaba Q4 revenue up 2%, board approves spinoff of cloud business

FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter

China’s Alibaba Group Holding Ltd, posted a 2% rise in quarterly revenue that missed expectations and said its board has approved a spinoff of its cloud-computing business.