BABA is trading at $121.41 (-9.69%) following a sharp Q3 earnings miss as aggressive investments in AI and e-commerce pressured the company's bottom line.
- Alibaba reported EPS of $1.01, significantly missing analyst estimates of $1.73, as heavy spending on core growth initiatives outweighed revenue gains.
- While cloud revenue showed growth, it was insufficient to offset declining profits and a broader market retreat, with the Nasdaq falling 1.32%.