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MarketWatch
Alibaba shares drop after mixed earnings report
Shares of Alibaba Group Holding Ltd. were headed lower in premarket trading Thursday after the Chinese e-commerce company posted a mixed quarterly report, with revenue falling short of expectations but earnings exceeding the consensus view. Alibaba posted fiscal third-quarter net income of RMB20.4 billion ($3.2 billion), or RMB7.51 per American depositary share, down from RMB79.4 billion, or RMB28.85 per ADS, in the year-prior quarter. On an adjusted basis, Alibaba earned RMB16.87 per ADS, down
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