Alibaba Shares Drop 2% Premarket After Revenue Miss and First Operating Loss Since Covid
Updated
Updated · CNBC · May 13
Alibaba Shares Drop 2% Premarket After Revenue Miss and First Operating Loss Since Covid
6 articles · Updated · CNBC · May 13
Alibaba fell 2% in premarket trading after the Chinese tech giant missed revenue estimates and posted its first operating loss since the Covid pandemic.
Heavy spending on artificial intelligence and faster e-commerce delivery weighed on results, underscoring the cost of Alibaba's push to defend growth and modernize its core businesses.
The miss landed as investors were already rotating through tech and AI names, adding pressure to a stock tied closely to expectations for China's internet sector and AI investment cycle.
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