Record revenue, profit decrease make it a mixed bag for Alibaba
May 21, 2017
Despite a fall in market share, e-commerce continued to boost online behemoth Alibaba Group Holding Ltd’s 2016-17 revenue, which hit an all-time high of 158.3 billion yuan ($23 billion), up 56 percent year-on-year, in the year to March 31. But net profit plummeted 42 percent year-on-year to 41.2 billion yuan, according to the company’s annual report…
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