China's Alibaba Group Holding Ltd on Thursday reported its slowest-ever increase in quarterly revenue since going public in 2014, as tepid growth in core e-commerce business and intensifying competition ate into its sales.

Revenue rose about 10% to 242.6 billion yuan ($38.37 billion) in the third quarter. Analysts on an average had expected revenue of 246.37 billion yuan, according to Refinitiv data. ($1 = 6.3226 Chinese yuan renminbi) (Reporting by Nivedita Balu in Bengaluru and Josh Horwitz in Shanghai; Editing by Arun Koyyur)