Alibaba Writes Down $1.2 Billion on Youku, Loss-Making Streamer, as Group Profits Plunge

Chinese e-commerce and entertainment giant Alibaba has taken a $ 1.2 billion goodwill impairment charge against its video-streaming operation Youku. The move was disclosed on Wednesday as Alibaba revealed its financial results for the October to December 2023 period, the third quarter of its current financial year. Group revenues in the quarter were up by 5% […]
Variety