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Alibaba grows Q2 sales 30%, net profit hit by Ant Group effects

Thursday 5 November 2020 | 13:57 CET | News
Alibaba reported net profit for the three months to September of CNY 28.8 billion (USD 4.2 billion), down 60 percent from a year earlier when it booked a considerable gain on its stake in Ant Group. Extra costs for employee stock options based on the Ant stake also weighed on operating profit, which fell 33 percent to CNY 13.6 billion. Revenue for the fiscal second quarter was still up 30 percent to CNY 155.1 billion, and adjusted EBITDA rose 28 percent to USD 47.5 billion. 

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Categories: Internet
Companies: Alibaba
Countries: China
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