Chinese e-commerce giant Alibaba reported quarterly revenue that missed Wall Street estimates on Thursday, as the firm works on new strategies to keep consumers spending amid persistent economic weakness and global trade uncertainties.

It faces intense contest from AI rivals like Baidu and Tencent, while its e-commerce business is also challenged by the likes of Bytedance. Read more at straitstimes.com. Read more at straitstimes.com.

Key Takeaways Alibaba missed profit and sales forecasts on slowing consumer spending in China and tougher competition.The e-commerce and cloud computing giant posted revenue gains in all of its divisions.