Alibaba posts 94% surge in quarterly profit
Chinese e-commerce giant Alibaba
Shanghai - Egypt Today
Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of sharp revenue growth in its core e-commerce and cloud computing businesses.
Alibaba said net income in the quarter which ended June 30 was 14.7 billion yuan ($2.2 billion), a year-on-year increase of 94 percent.
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