Alibaba warns of slower growth after missing Wall Street earnings

alibaba china

Kabar Medsos – Alibaba reported sales and earnings for the third quarter that missed forecasts and warned that results for the year will be below estimates as well. The stock sank on the news. Shares of Alibaba (BABA) were down 10% in early trading Thursday. The Chinese e-commerce giant reported sales growth of 29% from a year ago, to $31.1 billion. But Wall Street was expecting revenue of $32.1 billion. Earnings per share fell 38% from a year ago and also were below expectations. The company also said that sales…

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