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Alibaba Revenue Misses Estimates, Shares Tumble 8% in Pre-Market

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Alibaba Revenue Misses Estimates on Mobile Spending

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Alibaba Group Holding Ltd. revenue missed estimates as the e-commerce giant’s push into mobile curbed its advertising sales growth. The shares fell.

Revenue was 26.2 billion yuan ($4.2 billion) in the third quarter, compared with the 27.6 billion-yuan average of 25 analyst estimates. Ads on mobile phones generate less money than on desktop computers because of smaller screens, and transactions on the Tmall platform grew at a slower pace, the Hangzhou-based company said Thursday.