China’s Ant Group net profit fell 17.3% in March quarter – Alibaba filing

1 min read
FILE PHOTO: The logo for Alibaba Group is seen on the trading floor at the New York Stock Exchange in Manhattan, New York City

SHANGHAI – China’s Ant Group on Wednesday logged net profit of 11.38 billion yuan ($1.68 billion) in the quarter to March, down 17.3% from a year earlier, according to Reuters calculations from Alibaba Group Holding Ltd’s earnings report.

The e-commerce giant reports its profit from Ant one quarter in arrears.

($1 = 6.7558 Chinese yuan renminbi)

(Reporting by Josh Horwitz; Editing by Jan Harvey)