Alibaba posts earnings of 48 cents a share vs. 42 cents estimate

Alibaba debuted on the New York Stock Exchange last September has been facing a steady stock tumble as the company deals with a slower pace of economic growth in China. Its stock is 23 percent lower year to date but still trading above its IPO price. Read More Alibaba's Ma says freezing hiring: Report. "Alibaba has really developed too quickly... this year our entire...