Company Of The Day: Alibaba
What?
Chinese e-commerce behemoth Alibaba (NYSE:BABA) posted a weaker than expected set of Q2 results. While sales rose by about 29% year-over-year to about $31 billion, earnings per ADS stood at $0.31.
Why?
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Economic growth in China has been slowing. Moreover, the government’s recent crackdown on technology companies and new regulations are also likely weighing on results.
So What?
The stock was down by about 5% in pre-market trading on the NYSE on Thursday.
See Our Complete Analysis For Alibaba
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