Chinese e-commerce giant Alibaba reported a 29 percent fall in quarterly profit on Thursday as it battles sluggish consumption during an economic slowdown.
Alibaba runs some of China's most popular e-commerce apps and its performance is widely considered an indicator of broader economic trends.
China released another series of disappointing indicators on Thursday, despite recent government measures to boost growth.
Alibaba's revenue for the first quarter was 243.2 billion yuan, up four percent from the previous year.
Subscribe our newsletter to stay updated
Thank you for subscribing!
Subscribe our newsletter to stay updated
Thank you for subscribing!
