Alibaba misses Q2 revenue targets with 29% decline in net income amid domestic e-commerce slump

Alibaba Group reported disappointing financial results for the June quarter of 2024, missing both revenue and profit expectations.  The company’s struggles reflect broader challenges in its core domestic market, where competition and consumer sentiment have exerted significant pressure. For Q2, Alibaba’s revenue reached ¥243.24 billion ($34.01 billion), falling short of analyst forecasts of ¥249.05 billion, […]