Alibaba books 1.7% rise in fourth-quarter revenue; misses estimates

Alibaba on Thursday reported a 1.7% rise in fourth-quarter revenue, missing analysts' estimates, ‌as heavy ⁠spending ⁠on one-hour delivery and promotions during the peak shopping season did not translate into ⁠a surge ‌in demand.

China's ​largest ⁠ecommerce company booked revenue of ​284.84 billion yuan ($41.28 billion) ​for the three months through December, compared with ‌the 290.7 billion yuan ​average ​of ⁠21 analyst estimates compiled by LSEG.