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Alibaba Swings to a Loss as Revenue Beats Forecasts – Barron’s

The red ink stemmed from a fine of 18.23 billion yuan, imposed in April, over allegations that the company had abused its dominant market position.

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The company (ticker: BABA) said it lost 5.48 billion yuan (US$836 million), while the consensus call among Wall Street analysts was that net income would total 7.78 billion yuan, according to FactSet. It also reported its first loss from operations since going public, at 7.66 billion yuan. The red ink stemmed from a fine of 18.23 billion yuan, imposed in April, over allegations that the company had abused its dominant market position. Companies like
Tencent Holdings
(700. Hong Kong) and Baidu…

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