Alibaba Stock Drops Despite Higher-than-Estimated Profit; Sales Disappoint

Key TakeawayswAlibaba Group shares traded in the U.S. were lower Friday morning. The Chinese ecommerce giant posted higher-than-expected quarterly earnings on the back of cloud operations growth, but revenue was lower than expected.The company said that net income in its September quarter soared 63% year-over-year, beating the expectations of analysts polled by Visible Alpha.Revenue, up 5% year-over-year, undershot analysts' estimates. Alibaba Group's (BABA) US-traded shares were down around 3% in Friday mo ...