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Alibaba’s Revenue and Profit Beat Expectations

By
Juro Osawa
· · Source: The Information

Alibaba reported better-than-expected revenue and profit in the quarter through June, citing solid growth in its e-commerce and cloud-computing businesses amid China’s recovery from the coronavirus pandemic. Alibaba’s revenue for the quarter rose 34% while operating profit rose 42%. Net profit more than doubled, mainly because the value of publicly traded stocks owned by Alibaba jumped when the...

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