China's e-commerce giant Alibaba misses first-quarter revenue estimates

Quick Summary:

US-listed shares of the company fell about 4 per cent in premarket trading.

Net income attributable to ordinary shareholders in the quarter was 24.27 billion yuan, compared with 34.33 billion yuan a year earlier.

A halting economic recovery in China coupled with a persistently weak property market and high job insecurity levels have sapped consumer confidence and spending power in the world’s No.2 economy, hitting global firms across the board.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Cent Domestic Cloud Company’s Fell Alibaba Revenue Billion Yuan E-commerce Company

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-15 @ 19:45:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 531 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 22086179

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Main Topics: EconomyBusiness

Official Website: straitstimes.com

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