Chinese e-commerce giant Alibaba's third-quarter revenue rose 32 percent, beating analysts' average estimate, helped by strong holiday sales.
Alibaba's U.S.-listed shares were down about 1 percent Thursday. Oppenheimer's Internet analyst Jason Helfstein told CNBC's "Squawk Box" that the stock is moving down on concerns about the yuan.
"It was a revenue and EPS beat, but the issue is that they got there on a higher take rate. The gross merchandise value in local currency is slowing. The growth rate has basically been cut in half versus a year ago," said Helfstein.
"I think investors were looking for some more metrics around the stability of the business given concerns about the macro economy in China," Helfstein added.