Net income jumps at Alibaba
Chinese e-commerce giant Alibaba Group has reported a 193 per cent increase in its net income.
“Our excellent results this quarter reflect the unique strength of our core e-commerce business despite challenging economic conditions, as well as the emerging momentum of our balanced portfolio of businesses from mobile media to cloud computing. We achieved accelerating year-over-year revenue growth of 39 per cent, the highest revenue growth rate for the past four quarters.”
Maggie Wu, chief...
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