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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Denne historien er fra February 10, 2024-utgaven av Techlife News.
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