Alibaba reports Q1 revenue up 4% YoY to ~$34B, below ~$34.9B est., and net income down 27% YoY to ~$3.4B, after aggressive promotions failed to drive spending (Zheping Huang/Bloomberg)

1 month ago 8

Zheping Huang / Bloomberg:
Alibaba reports Q1 revenue up 4% YoY to ~$34B, below ~$34.9B est., and net income down 27% YoY to ~$3.4B, after aggressive promotions failed to drive spending — The domestic e-commerce leader reported revenue of 243.2 billion yuan ($34 billion) in the June quarter, versus the average projection for about 249.9 billion yuan.

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