Alibaba has smashed quarterly profit predictions as online sales surged during lockdown and demand for its cloud computing services soared.
The Chinese ecommerce titan posted a 30% spike in EBITDA to RMB51bn (£5.4bn) during the three months to June 30.
Total revenues across the group swelled 34% to RMB153bn (£16.4bn), driven by a huge increase in the number of customers purchasing products from its retail marketplaces during the coronavirus crisis.
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