Earnings

Alibaba earnings fiscal Q2: Revenue misses, earnings plunge

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Signage for Alibaba Group Holding Ltd. displayed at the company’s headquarters in Hangzhou, China, on Wednesday, Nov. 10, 2021. Alibaba’s annual 11.11 Singles’ Day online shopping bonanza, one that draws in hundreds of millions of people across the globe, is a more low-key affair this year as the e-commerce giant seeks to turn the focus away from increasing sales and more toward sustainability and philanthropy — key pillars of President Xi Jinping’s drive to reshape China’s economy.

Qilai Shen | Bloomberg | Getty Images

GUANGZHOU, China — Alibaba on Thursday missed revenue and earnings expectations for the September quarter, as slowing economic growth in China weighed on results, adding…



Source cnbc.com

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