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Alibaba Profits Hit $10 Billion as Entertainment Losses Grow – Variety

Alibaba Profits Hit $10 Billion as Entertainment Losses Grow – Variety: “During the past year, we doubled down on technology development, cloud computing, logistics, digital entertainment, and local services so that we are in a position to capture consumption growth in China and other emerging markets,” CEO Daniel Zhang said in a statement that accompanied the financial data.

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