Alibaba's profit rises by 96% to $2.1 billion in Q1 2017
Chinese e-commerce giant Alibaba on Thursday posted a net profit of $2.1 billion for the quarter ended June 2017, up 96% from the previous year. Alibaba also reported a total revenue growth of 56% in the quarter to $7.4 billion. Alibaba also reported an increase of 12 million annual active consumers to 466 million in its China retail marketplaces. 