Alibaba's revenue for the three months ended June rose 28%, missing analysts' estimates, with growth slowing to its lowest rate in more than three years.
China's biggest e-commerce company posted quarterly revenues of $3.27 billion, below an expected $3.39 billion, according to a Thomson Reuters SmartEstimate poll of 28 analysts.
The drop in revenue growth came as gross merchandise volume,or the total value of goods transacted across Alibaba's platforms, rose 34%, also rising at its slowest pace in more than three years.