Alibaba shares rose yesterday as it reported a 61 per cent surge in revenues in the quarter to the end of June but profits failed to keep pace, squeezing margins.
The Chinese ecommerce group also announced that, together with SoftBank, the Japanese tech investment group that is a big shareholder and regular co-investee, it would pump $3bn into its food delivery operations, which are locked in battle with
Tencent-backed Meituan Dianping.
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