Alibaba Group is trading 5.65% down now at $123.16 after investors focused on the August 20 earnings release’s steep profit decline and earnings miss.
- Quarterly net income fell 75% year over year, while adjusted earnings missed expectations despite 45% cloud-revenue growth.
- Capital expenditures rose 75% to approximately $10 billion as Alibaba expanded AI infrastructure, intensifying concerns about near-term profitability.