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Alibaba quarterly revenue falls short of estimates

Posted by: Admin | Posted on: November 2nd, 2018 | 0 Comments

(Reuters) – China’s Alibaba Group Holding Ltd (BABA.N) reported lower-than-expected second-quarter revenue on Friday, another sign of slowing momentum for China’s giant e-commerce platforms and its economy.

Revenue rose 54.5 percent to 85.15 billion yuan ($12.39 billion) for the three months through September, compared with the average analyst estimate of 86.51 billion yuan, according to IBES data from Refinitiv.

Net income attributable to ordinary shareholders rose 13 percent to 20.03 billion yuan, or 6.78 yuan per share.

($1 = 6.8712 Chinese yuan renminbi)

Reporting by Catherine Cadell; Additional reporting by Akanksha Rana in Bengaluru; Editing by Arun Koyyur

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