The company’s Hong Kong-traded shares plunged 6.8% on Thursday. Alibaba’s New York-listed stock price sank 5.9% on Wednesday and has fallen nearly 26% over the past year.
Alibaba posted a 5% increase in sales to 260.3 billion yuan ($36.67 billion) in the quarter that ended in December, slightly missing analysts’ estimates. Net income sank to 14.4 billion yuan ($2 billion), down 77% compared to a year earlier.
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AUSTRALIA WON'T FORCE SOCIAL MEDIA USERS TO SHARE THEIR PERSONAL DETAILS WHEN CHILD BAN TAKES EFFECT
Australia’s communications minister said this week the government won’t force social media users to hand over their personal information to tech companies, as children younger than 16 are set to be banned from the platforms.
FORD, FACING ECONOMIC HEADWINDS AND WEAK EV SALES, TO CUT 4,000 JOBS IN EUROPE
Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars.
ABOUT 20% OF AMERICANS REGULARLY GET THEIR NEWS FROM INFLUENCERS ON SOCIAL MEDIA, REPORT SAYS
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SPIRIT AIRLINES FILED FOR BANKRUPTCY. WHAT DOES THAT MEAN FOR TRAVELERS?
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MEET THE WORKOUT GROUP THAT GETS PEOPLE EXERCISING OUTDOORS, EVEN IN THE DEAD OF WINTER
The sun had yet to come up in Edmonton, Alberta, and it was more than 20 degrees below zero. Tanis Smith layered up anyway, ready to run up and down hundreds of stairs among the trees in the Saskatchewan River Valley.
NEW PENTAGON REPORT ON UFOS INCLUDES HUNDREDS OF NEW INCIDENTS BUT NO EVIDENCE OF ALIENS
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COMCAST TO SPIN OFF CABLE NETWORKS, ONCE STAR PERFORMERS FOR THE ENTERTAINMENT GIANT
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DELTA CEO SAYS THE TRUMP ADMINISTRATION WILL REVERSE GOVERNMENT 'OVERREACH' SEEN UNDER BIDEN
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NVIDIA RIVALS FOCUS ON BUILDING A DIFFERENT KIND OF CHIP TO POWER AI PRODUCTS
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MICROSOFT PITCHES AI 'AGENTS' THAT CAN PERFORM TASKS ON THEIR OWN AT IGNITE 2024
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