Synopsis
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.
