Alibaba stock falls after earnings come up short

Shares of Alibaba Group Holding Ltd. were off more than 3% in premarket trading Thursday after the Chinese e-commerce giant fell short of expectations with its latest financial results.

“This quarter, Alibaba continued to firmly invest into our three strategic pillars of domestic consumption, globalization, and cloud computing to establish solid foundations for our long-term goal of sustainable growth in the future,” Chief Executive Daniel Zhang said in a release.

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