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Alibaba misses revenue estimates; boosts buyback by $25 billion

SHANGHAI (Reuters) -China's Alibaba Group Holding on Wednesday missed analysts' estimates for third-quarter revenue, hurt by softness in the retail market and sagging economic recovery in the world's second-largest. Alibaba announced the split of its business into six units last March in a transition overseen by CEO Eddie Wu and Chairman Joe Tsai, both Alibaba co-founders. Wu, Group CEO since September, has been consolidating his control over Alibaba's core businesses and has told staff the company's strategic focuses would be "user first" and "AI-driven" as it combats slower earnings growth.
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