Alibaba Filing Shows Earnings Triple, Revenues Rise

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In a F1 filing Wednesday, Alibaba (BABA) showed net income tripling to $1.99 billion, or $0.84 a share for the second quarter.

Revenue rose just shy of 45 percent $2.15 billion, due in large part to a jump in advertising spending on the e-commerce platforms.

Investors are still awaiting the terms of the much anticipated Alibaba IPO.

Shares of Yahoo YHOO, which holds a 22.5 percent stake in Alibaba, are trading higher by 0.61 percent following the Alibaba release.

Posted In: EarningsNewsAlibaba
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