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Alibaba.com Net Profit Up 28 Percent

Published on August 11, 2011
by Owen Fletcher

Alibaba.com Ltd.’s second-quarter net profit rose 28 percent from a year earlier because of growth in its online business, it said Thursday.

Alibaba.com, which operates Web sites that connect buyers and suppliers, said its net profit for the three months ended June 30 was 464.5 million yuan ($72.6 million), up from 363 million yuan.

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