American depositary receipts (ADRs) of Alibaba (BABA) tumbled close to 6% in early trading Wednesday after the Chinese e-commerce giant’s holiday results missed expectations even as it raised its stock buyback program.
Alibaba reported fourth-quarter earnings per share (EPS) of 18.97 Chinese yuan ($2.67), with revenue rising 5% from a year ago to 260.35 billion yuan ($36.6 billion). Both were below forecasts. Read more about the study…
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