China’s Alibaba Group Holding Ltd on Thursday reported its slowest-ever increase in quarterly revenue since going public in 2014, as tepid growth in core e-commerce business and intensifying competition ate into its sales.

Revenue rose about 10 percent to 242.6 billion yuan ($38.37 billion) in the third quarter. Analysts on an average had expected revenue of 246.37 billion yuan, according to Refinitiv data.

By Nivedita Balu and Josh Horwitz; Editor: Arun Koyyur

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