Alibaba misses quarterly revenue estimates
Chinese e-commerce giant Alibaba reported quarterly revenue that missed Wall Street estimates on Thursday, as the firm works on new strategies to keep consumers spending amid persistent economic weakness and global trade uncertainties.
The company reported revenue of 236.45 billion yuan ($32.79 billion) in its fiscal fourth quarter ended March 31, compared with analysts' estimates of 237.24 billion yuan, according to data compiled by LSEG.
($1 = 7.2107 Chinese yuan renminbi)
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