Alibaba profit nearly doubles on robust revenues
World BusinessAug 17, 2017
SHANGHAI -- Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of solid revenue growth in its core shopping business and in cloud computing.Alibaba, which has made billionaire founder Jack Ma one of China's richest men and a global e-commerce icon, has seen its New York-listed shares soar 80 percent since last December on perennially robust earnings.(www.alibabagroup.com)With those shares at all-time highs, the company's market worth ha