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Alibaba Slips To Loss In Q2, Revenues Rise; To Upsize Share Repurchase Program By $15 Bln

Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday that its second-quarter net loss attributable to ordinary shareholders was RMB20.56 billion or $2.89 billion, compared to last year's profit of RMB5.37 billion.

Loss per ADS was RMB7.77 or $1.09, compared to profit of RMB1.97 a year ago. Loss per share was RMB0.97 or $0.14 or HK$1.07, compared to profit of RMB0.25 last year.

Adjusted net income was RMB33.82 billion or $4.75 billion, an increase of 19 percent year-over-year. Adjusted earnings per ADS was RMB12.92 or $1.82, 15 percent higher year-over-year and adjusted earnings per share was RMB1.61 or $0.23 or HK$1.78, up 15 percent.

Revenue grew 3 percent to RMB207.18 billion or $29.12 billion from last year's RMB200.69 billion.

In addition, the board has approved to upsize the share repurchase program by another $15 billion and extend the program to the end of fiscal year 2025.

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