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Alibaba expects weakest year since N.Y. listing

E-commerce giant's shares down 9% in U.S. after net income plunges 87%

HONG KONG -- Alibaba Group Holding warned of slower revenue growth in the quarters ahead on Thursday after the e-commerce giant posted a major fall in net income for the quarter ended in September.

Alibaba said it expects revenue for fiscal year 2022 to grow 20% to 23% year-over-year, which means that average growth for the next two quarters will be lower than 20% -- the slowest since it was listed on the New York Stock Exchange in 2014.

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