Alibaba has doubled its net profit

The popular online store Alibaba has disclosed the results for the 1st quarter of the fiscal year. The company achieved high results due to the increase in sales in the retail sector. The net profit has grown by almost $2 billion, which is twice higher compared to the same period last year. The revenue of Alibaba has also risen by 56%.

The Alibaba shares after the financial data disclosure showed a sharp jump, their value has already increased by 2.18% and continues to grow. Traders have a good opportunity to earn money on the asset’s further rise. Trading will be available during the American session from 13:40 to 20:00 GMT time.

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