Comment on Alibaba Quarterly Profits Double to $2 Billion as Entertainment Drags

Alibaba Quarterly Profits Double to $2 Billion as Entertainment Drags

Chinese e-commerce giant Alibaba saw revenues increase by 56% to $7.40 billion in the three months to June. Net income was up by 96% to $2.07 billion. Its digital media and entertainment division — now considered as a core business area — had revenues of RMB4.08 billion ($600 million), but remained heavily loss-making.

 

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