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UPDATE 1-Alibaba's quarterly revenue jumps 34%

路透社 · Aug 3, 2021 23:07

BABA-SW -2.14% BABA +0.09%

(Adds Ant Group profit)
   Aug 3 (Reuters) - China's Alibaba Group Holding Ltd reported a 34% rise in quarterly revenue on Tuesday, helped by growth at its cloud computing and e-commerce businesses.
   Ant Group, the fintech affiliate of Alibaba Group, recorded a quarterly profit of about 13.48 billion yuan for the quarter ended March, according to the Chinese e-commerce giant's filing.
   Alibaba, which holds about a third of Ant, posted a profit of 4.49 billion yuan for the quarter ended June 30 from its investments in the financial conglomerate.
   Alibaba's revenue rose to 205.74 billion yuan ($31.83 billion) in the first quarter, from 153.75 billion yuan a year earlier.
      ($1 = 6.4628 Chinese yuan renminbi)

(Reporting by Nivedita Balu in Bengaluru; Editing by Shounak
Dasgupta)
((Nivedita.Balu@thomsonreuters.com; Twitter: @niveditabalu)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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