Ahead of its IPO Alibaba released a report on its first quarter results, showing that revenue grew 39% from the year-ago quarter, down from 66% in the fourth quarter.
GMV for the Tmall site that competes with JD.com grew 90% from the year-ago quarter to RMB135 billion. The site saw GMV growth of 101% to RMB183 billion in the fourth quarter. The slower growth is contributing to JD.com's sell off.
Must read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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