Alibaba Falls Short as China’s Spending Slump Hits

Alibaba Reports Revenue Shortfall Alibaba Group Holding Ltd. (NYSE:BABA) fell short of market expectations for first-quarter revenue on Thursday, as domestic e-commerce sales were pressured by cautious consumer spending in China’s struggling economy. The company’s revenue of 243.24 billion yuan ($33.98 billion) for the quarter ending June 30 missed analysts’ average forecast of 249.05 billion […]