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Alibaba says annual net profit up 47% in 2017/2018

Published May 04,2018
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Chinese e-commerce giant Friday announced a massive 47 percent leap in net profit for the fiscal year 2017/2018.

Profit climbed to 63.985 billion yuan ($10.2 billion), boosted by a 60 percent rise in revenue from its core commerce business, the online retailer said.