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CNBC: Alibaba shares drop as its slashes guidance and earnings plunge on China’s slowdown

Alibaba.com logo on the wall of the server room. Editorial 3D rendering
ID 116498071 © Alexey Novikov | Dreamstime.com
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CNBC reports:

Alibaba on Thursday missed revenue and earnings expectations for the September quarter, as slowing economic growth in China weighed on results, adding to regulatory headwinds.

Here’s how Alibaba did in its fiscal second-quarter, versus Refinitiv consensus estimates: 

– Revenue: 200.69 billion yuan ($31.4 billion) vs. 204.93 billion yuan estimated, a 29% year-on-year rise.

– EPS: 11.20 yuan vs. 12.36 yuan estimated, a 38% year-on-year decline.

The company also slashed its revenue guidance for its current fiscal year. It previously expected to bring in 930 billion yuan, ...

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