Reported about 2 months ago
Alibaba Group has reported Q1 revenues of 243.24 billion yuan ($33.98 billion), falling short of analyst estimates of 249.05 billion yuan due to a decline in domestic e-commerce sales amid cautious consumer spending in a weakening Chinese economy. The company's shares initially fell by 1.7% but recovered as executives discussed future revenue growth strategies and the introduction of new monetization tools for merchants. Despite a tough market, Alibaba's international e-commerce and cloud segments showed growth.
Source: YAHOO