Alibaba Hong Kong Shares Plunge After Disappointing Q3 Results Despite Cloud and AI Gains
Alibaba's Hong Kong-listed shares tumbled after the company reported weaker-than-expected December quarter results, with net income plunging 66.3% and revenue missing forecasts. Strong cloud revenue growth and continued investment in AI were overshadowed by elevated spending on e-commerce promotions and AI initiatives, prompting the company to reor…