Alibaba quarterly earnings plunge 28% to $964 million

Chinese e-commerce giant Alibaba said Thursday its net profit for the three months ending December plunged 28 percent to $964 million, hit mainly by a one-off charge and higher taxes.

Alibaba quarterly earnings plunge 28% to $964 million

Chinese e-commerce giant Alibaba said Thursday its net profit for the three months ending December plunged 28 percent to $964 million, hit mainly by a one-off charge and higher taxes.

Alibaba, which completed the world`s biggest IPO with its listing on the New York Stock Exchange in September, said earnings per share reached 81 cents, up 13 percent from the same period a year ago.

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