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Alibaba makes second biggest ever quarterly share repurchase worth $4.8 billion

Reuters
Updated
FILE PHOTO: Illustration shows Alibaba logo

(Corrects headline and text to say buyback is second biggest, not the biggest)

(Reuters) - Chinese e-commerce giant Alibaba Group said it had bought back $4.8 billion worth of shares in the quarter ended March, its second highest ever since listing, a couple of months after boosting the stock buyback plan by $25 billion through March 2027.

(This story has been corrected to say that the share buyback is the second biggest, not the biggest, in the headline and paragraph 1)

(Reporting by Aaditya Govind Rao in Bengaluru; Editing by Arun Koyyur)