Alibaba earnings growth slows as entertainment losses deepen – Business News
LOS ANGELES: Chinese e-commerce giant Alibaba on Wednesday unveiled revenue of $17 billion in the last three months of 2018, with net profits of $4.5 billion, up 33% from the same period the year before. But growth was dragged down by the company's worsening performance in the entertainment sector, with losses…
But growth was dragged down by the company’s worsening performance in the entertainment sector, with losses of over $890 million, including a more than $400 million write-off of dud entertainment projects.
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