Alibaba misses quarterly revenue expectations

China's Alibaba Group Holding Ltd on Thursday missed market expectations for second-quarter revenue, as consumption in the country slowed and its e-commerce business took a hit from supply chain constraints. Revenue rose 29% to 200.69 billion yuan ($31.44 billion) in the quarter ended Sept.

China's Alibaba Group Holding Ltd on Thursday missed market expectations for second-quarter revenue, as consumption in the country slowed and its e-commerce business took a hit from supply chain constraints.

Revenue rose 29% to 200.69 billion yuan ($31.44 billion) in the quarter ended Sept. 30. Analysts on an average had expected revenue of 204.93 billion yuan, according to Refinitiv data. ($1 = 6.3838 Chinese yuan renminbi)

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