Alibaba Quarterly Profits Slide to $3.3 Billion as Entertainment Unit Returns to Loss

Alibaba Group, China’s e-commerce and entertainment giant, saw net profits fall by 27% in the April-June period, which represents the first quarter of its April to March financial year. On Thursday, the company which has share listings in New York an Hong Kong, reported revenue of RMB243 billion ($33.4 billion), a 4% year-over-year increase. Net […]
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