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Business & Finance

Alibaba net profit soars 35pc to $3.7 billion in Q3

Published February 1, 2018 Updated February 1, 2018 12:17pm
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By Shoaib Ur RehmanAFP
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BEIJING: Chinese e-commerce giant Alibaba Thursday posted a 35 percent surge in net profit in the third quarter, rising to $3.7 billion thanks to the annual Singles Day sales bonanza in November.

"Alibaba had another great quarter driven by the continued strength of the Chinese consumer and the wide and innovative range of services we provide for merchants and consumers," Alibaba chief executive Daniel Zhang said in an earnings report.

 

Copyright AFP (Agence France-Press), 2018
 

 

 

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