Alibaba’s high-growth days are over as Chinese consumer spending weakens

Alibaba Group Holding is bidding farewell to its golden era of exceptional revenue and profit growth amid a broad weakening in consumer spending in the world’s second largest economy, analysts said.The Chinese e-commerce giant, owner of the South China Morning Post, reported an 87 per cent year-on-year decline in net income for the September quarter while its adjusted profit fell 39 per cent, marking the company’s first fall in adjusted profit in 22 quarters. The news triggered investor’s to…

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