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Alibaba Reports Strong Net Profit Gain, Slower Revenue Growth In 3Q

January 29, 2014: 12:00 AM EST
Chinese ecommerce company Alibaba Group Holdings Ltd. reported net profit of $792 in the third quarter. Revenue increased 51 percent to $1.78 billion, significantly slower than the 61 percent growth reported in the previous quarter. For the third quarter of the previous year, Alibaba reported a net loss of $246 million, due to the $550 million charge to purchase some of its shares from Yahoo Inc., which currently owns 24% of the Chinese online company. Alibaba, whose coming IPO is expected to value the company at more than $100 billion, outpaced its competitors Tencent Holdings Ltd., which grew 34 percent; and Amazon.com Inc., which reported revenue grew 24 percent.
Juro Osawa, "Alibaba Swings to a Profit but Revenue Growth Slows", Wall Street Journal, January 29, 2014, © Dow Jones & Company, Inc
China Business
Companies, Organizations
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