Alibaba reports quarterly revenue growth
What: Chinese company Alibaba reported less than expected revenue results.
Why is it important: Due to the increase of competition and growth in e-commerce Alibaba Group Holding Ltd announced that this past year had the slowest-ever increase in their revenue since going public in 2014.
The company was expected to produce revenue of 246.37 billion yuan. However, they only reported a 10 percent increase in revenue as of the third quarter to finish off the quarter with 242.6 billion yuan.
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