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Update: Alibaba Shares Fall After Fiscal Q1 Adjusted Earnings Miss

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(Updates with the company's stock move in the headline and first paragraph.)

Alibaba Group's (BABA) shares were down more than 2% in Thursday trading after its fiscal Q1 non-GAAP earnings missed Wall Street expectations.

The company reported fiscal Q1 non-GAAP earnings of 8.52 Chinese renmimbi ($1.26) per diluted American depositary share, down from 14.75 renminbi a year earlier.

Analysts polled by FactSet expected 10.14 renminbi.

Revenue for the quarter ended June 30 was 268.95 billion renminbi, up from 247.65 billion renminbi a year earlier.

Analysts expected 268.48 billion renminbi.

Price: $126.18, Change: $-2.72, Percent Change: -2.11%

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