Alibaba Group Holding missed analysts' estimates for quarterly sales on Friday, as lingering economic uncertainty sapped consumer spending in China and weighed on the e-commerce giant's domestic business.

Alibaba 9988-0.85%decrease; red down pointing triangle Group posted lower-than-expected quarterly revenue as the e-commerce giant contended with a weaker Chinese economy and growing competition from newer rivals, even as international sales boomed.

Chinese tech and e-commerce giant Alibaba on Friday reported moderate revenue growth of 5% in its latest quarter, as Beijing works to stimulate domestic spending.