Alibaba earnings surge 58 pct on ‘Single’s Day’ boost

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Chinese e-commerce leader Alibaba said Thursday that net profit increased 58 per cent in the latest quarter, citing another record “Single’s Day” sales promotion in November and growth in cloud computing. Net profit reached 52.3 billion yuan ($7.5 billion) in the October-December third quarter. Alibaba dominates China’s consumer culture and its corporate results are widely
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