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Alibaba Sales Rise 7% After Going Back to Basics

Alibaba Group Holding Ltd. reported a 6.6% rise in revenue after its main e-commerce and cloud businesses managed only modest growth.Revenue for the three months ended March rose to 221.9 billion yuan ($30.7 billion), compared with analysts’ estimates for 219.8 billion yuan. Net income dived a worse-than-expected 86% after accounting for losses from publicly traded holdings. Its shares slid about 5% in pre-market trading....

Read more at bloomberg.com

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