Shares of Alibaba Group Holding Limited (BABA) declined after the company reported lower third-quarter earnings despite modest revenue growth.
The stock is currently trading at $123.68, down $10.90 or 8.10%, on the NYSE. It opened at $123.02 after closing the previous session at $134.58. The stock has traded between $95.73 and $192.67 over the past 52 weeks.
Alibaba reported third-quarter net income of RMB16.322 billion, or RMB5.93 per share, compared with RMB48.945 billion, or RMB20.39 per share, in the same period last year.
Revenue increased to RMB284.843 billion from RMB280.154 billion a year earlier.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.