Alibaba Group’s net profit rose 51% to $4.7 billion in the three months ended June 30 from a year earlier, when China’s Covid lockdowns dealt a blow to its domestic business. Revenue grew 14% to $32.3 billion. The company’s mainstay domestic commerce retail division saw revenue increase 13% to $15.2 billion. Revenue from the cloud intelligence division, a business that Alibaba hopes will drive...
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