00:00It's Benzinga, and here's what's on the block.
00:02Alibaba missed earnings and revenue expectations for the most recent quarter.
00:07The company's core China e-commerce business sales from Tmall fell year over year due to
00:11competition and a cautious consumer environment.
00:14However, gross merchandise value grew by double digits.
00:17Alibaba's cloud computing division revenue grew while cloud profitability sharply increased.
00:22Alibaba is focusing on transitioning its China commerce to prioritize third-party sellers
00:26and new monetization tools to return to growth by late 2025.
00:31CEO Eddie Wu has been working to stabilize the core China business since taking over
00:35last year.
00:36For all things money, visit Benzinga.com.
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