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Alibaba posts slowest sales growth in 3 years

After the first quarterly results since taking over, new CEO faces the challenge of gaining investor confidence

Published Thu, Aug 13, 2015 · 09:50 PM
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Hong Kong

JUDGING by the numbers, Alibaba Group Holding chief executive officer Daniel Zhang's first Wall Street outing was a big letdown.

In the first quarterly results since Mr Zhang took over in May, Asia's largest Internet company posted its slowest sales growth in at least three years. Shares in the company fell 5.1 per cent in New York trading, dropping to the lowest since the com-pany's initial public offering in September 2014.

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