US Stock Market Movement | Alibaba (BABA.US) Drops Over 7% as Q1 Net Profit Falls Short of Expectations
On Friday, Alibaba (BABA.US) fell over 7%, closing at $120.57.
According to Golden Ten Data APP, on Friday, Alibaba (BABA.US) fell over 7%, closing at $120.57. In terms of news, after the market closed on August 20, Alibaba released its financial report for the first quarter of fiscal year 2027, with adjusted net profit of 20.72 billion yuan, lower than the market estimate of 25.58 billion yuan. Capital expenditure for this quarter reached 67.678 billion yuan, a year-on-year increase of 75%. Investment in technology continued to increase, operating profit fell 57% year-on-year, and net free cash outflow was 44.67 billion yuan, putting significant pressure on cash flow.
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