Alibaba and JD miss earnings estimates as China consumption remains soft
HONG KONG — Alibaba Group reported a disappointing quarterly performance on Friday amid weak consumption in China. Revenue grew 5% on the year to 236.5 billion yuan ($33.7 billion) in July-September, missing the average estimate of 238.92 billion yuan by analysts surveyed by LSEG. Net income was 43.55 billion yuan, an increase of 63% year-over-year….
