Weaker Than Expected Sales Growth And Regulatory Concerns Bring Down Alibaba's Stock

The company's earnings were driven by around a 450% increase in mobile revenues and 45% increase in annual active buyers during the quarter. We think the company's top-line growth could decelerate in the coming future, due to tougher year-over-year comparisons, and the increasing share of mobile viewers in overall GMV, where the monetization rate is lower as compared to that on desktops.