US Stock Market Move | Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell more than 7% as Q1 net profit came in below expectations.
On Friday, Alibaba (BABA.US) fell by over 7%, closing at $120.57.
On Friday, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell by over 7%, closing at $120.57. In news, after the market closed on August 20, Alibaba Group Holding Limited Sponsored ADR released its financial report for the first quarter of fiscal year 2027, with adjusted net profit of 20.72 billion yuan, below the market estimate of 25.58 billion yuan. Capital expenditures for this quarter reached 67.678 billion yuan, a year-on-year increase of 75%. The investment in technology continued to escalate, while operating profit fell by 57% year-on-year. Free cash flow saw a net outflow of 44.670 billion yuan, indicating significant pressure on cash flow.
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HONBRIDGE (08137) plans to acquire 51% of Juneng (Jiangsu) Power Technology for 424.8 million yuan.
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