Alibaba Q1 Earnings: Revenue Miss Amid Price War, Profit Beat, International Commerce and Cloud Segments Shine
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited (NYSE:BABA) reported mixed fiscal Q1 2024 results, with revenue missing estimates but profit beating expectations. The company faces intense domestic competition and a weak economy, leading to a 2.99% drop in premarket trading.
August 15, 2024 | 11:14 am
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Alibaba reported mixed Q1 2024 results with revenue missing estimates but profit beating expectations. The company faces intense domestic competition and a weak economy, leading to a 2.99% drop in premarket trading.
The revenue miss and intense domestic competition in a weak economy are likely to weigh on investor sentiment, leading to a short-term negative impact on the stock price.
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