Big Gains Help Boost Alibaba’s Global Dominance
Thomas Scarlett
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InvestorPlace•July 25, 2018
Even after a partial selloff, Alibaba (NYSE:BABA) remains one of the biggest winners of the second quarter. The Chinese e-commerce mega-firm reported that quarterly sales had jumped by 76 percent year-over-year. Those sales are now approaching the $10 billion-mark.
That gain looks a bit bigger due to the favorable exchange rate. But even denominated in yuan, Alibaba revenues were up at least 60 percent.
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