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Alibaba's Q2 profit down, revenue up; cloud arm set to take centre stage

Its e-commerce juggernaut is plateauing and the payoff from businesses such as entertainment still years away


Hong Kong

CHINESE e-commerce firm Alibaba Group Holding on Thursday reported a 55 per cent rise in second-quarter revenue, beating analyst estimates, on the back of core online sales and strong media and entertainment growth. Revenue reached 34.3 billion yuan (S$7 billion) for the three...