Alibaba posted its quarterly numbers on the back of heightened regulatory scrutiny, supply chain bottlenecks, and renewed Covid headwinds across China. For its June quarter, the company reported revenue of RMB 205.55 billion yuan ($30.68 billion) vs RMB 205.74, remaining flat year-on-year. Operating income was RMB 24.94 billion (US$3,724 million), a decrease of 19% year-over-year. Its China commerce business, which accounts for over two-thirds of its business, shrank to $141.93 billion ($21.19 billion) from RMB 144.02 billion a year ago.