13 December 2018

Alibaba posts profit ahead of potential IPO, Bloomberg says

Alibaba Group Holding Ltd. swung to a quarterly profit ahead of a potential initial public offering, Bloomberg reported Wednesday. Net income attributable to ordinary shareholders was US$792 million in the three months ended September, up from a loss of US$246 million a year earlier, the report said, citing a presentation from Yahoo! Inc., which owns a 24 percent stake in Alibaba. Revenue rose 51 percent to US$1.78 billion.

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