Alibaba profit up 132% in ‘outstanding’ quarter

Chinese e-commerce giant Alibaba said on Thursday that its net profit soared 132 percent in an “outstanding” latest quarter, prompting it to raise its projection for full-year revenue growth. Net profit for the three months ending September 30 reached 17.67 billion yuan, ($2.67 billion), up from 7.62 billion yuan in the same period of 2016, theā€¦