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Alibaba's Q3 profit misses estimates

Mr Ma is investing in shopping apps and platforms to reach a target of working with more than 10 million small businesses outside China.

Hong Kong

ALIBABA Group Holding Ltd sales missed estimates as founder Jack Ma spent more money to attract customers on mobile phones.

Revenue was 26.2 billion yuan (S$5.7 billion) in the third quarter, compared with the 27.6 billion yuan average of 25 estimates, the Hangzhou-based