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Alibaba shares plunge 10% after earnings trail estimates

Published 01/29/2015, 11:05 AM
Updated 01/29/2015, 11:05 AM
© Reuters.  Alibaba plunges after earnings trail estimates

Investing.com - Alibaba (NYSE:BABA) shares tumbled on Thursday, after the Chinese e-commerce giant reported lackluster fourth quarter earnings and revenue ahead of the opening bell.

Alibaba reported earnings of 81 cents per share, compared to expectations for earnings of 74 cents per share.

The company's revenue totaled $4.22 billion, missing forecasts for sales of $4.42 billion.

Shares in Alibaba tumbled 10.05% to $88.56 from a closing price of $98.45 on Wednesday.

Meanwhile, U.S. stock markets were lower after the open. The Dow 30 shed 0.1%, the S&P 500 dipped 0.5%, while the Nasdaq 100 slumped 0.6%.

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