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August 17, 2017 12:25 pm GMT

Alibabas profit doubles to $2.1B after another huge quarter of business

Alibaba had another blockbuster quarter of business as its profits almost doubled. The Chinese e-commerce giant reported net profit of14 billion RMB ($2.1 billion) for its recent quarter that finished June 30 — that’s up 96 percent year-on-year. Total revenue grew 56 percent to reach50.2 billion CNY ($7.4 billion), easily exceeding estimates, with the firm reporting 466… Read More

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