Alibaba delivered mixed first quarter results as revenue missed expectations, earnings were well ahead, and the company grew its global customer base.
The e-commerce giant’s results mirrored Amazon earnings, which showed a slowdown in e-commerce growth. However, Amazon’s profits were fine due to Amazon Web Services. Alibaba earnings were also strong, and the company said it will increase its share buyback program from $10 billion to $15 billion.
Alibaba has been under fire from Chinese regulators. China’s government has been reining in its tech giants and many of them have been whacked in the US market.
