Alibaba misses Q3 revenue estimates with 1.7 percent rise
Alibaba reported Q3 revenue of 284.84 billion yuan, missing analyst estimates. Increased spending on delivery and promotions failed to boost consumer demand.
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Alibaba reported a 1.7% increase in revenue for its third quarter, missing analyst estimates as aggressive spending on logistics and marketing failed to drive a significant uptick in consumer demand. The results highlight the challenges facing the e-commerce giant in China amid a shifting retail landscape.
