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Operator: Good day, ladies and gentlemen. Thank you for standing by. Welcome to Alibaba Group's December Quarter 2023 Results Conference Call. At this time, all participants are in a listen-only mode.
Alibaba Group (BABA) reports 5% revenue growth but misses earnings estimates. Increases share buyback program by $25 billion. Stock up 2.79% premarket.
Chinese e-commerce giant Alibaba Group Holdings Ltd. reported Wednesday sharply lower profit in its third quarter on significant charges, despite growth in revenues.
Alibaba is considering selling several of its brick-and-mortar businesses, including grocery business Freshippo, retailer RT-Mart and shopping mall operator Intime.
A weak Chinese economy and other obstacles continued to weigh on the stock.