Shares of Alibaba (NYSE: BABA) slid in pre-market trading on Thursday as the company reported Q3 results with revenues of $29.1 billion, up 3% year-over-year but missing Street estimates by $490 million. Adjusted earnings came in at $1.82 per ADS for the Chinese e-commerce giant, an increase of 15% year-over-year surpassing analysts' estimates of $1.69 per share. Toby Xu, CFO of Alibaba Group commented, "We have continued to take a holistic approach to improve operating efficiency and cost optimization throughout the company that resulted in adjusted EBITA growth of 29% year-over-year.
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