Alibaba misses revenue estimate, approves cloud unit spinoff
(Reuters) -China’s Alibaba Group Holding Ltd posted a 2% rise in quarterly revenue that missed expectations on Thursday and said it would list its cloud computing business in the next year. The company has been struggling to attract new users as China’s e-commerce sector matures and it grapples with inroads made by new competitors such as PDD Holdings and Douyin, the Chinese version of TikTok that is also owned by […]