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Alibaba+surges+while+Walmart+stalls
Friday, 18 August 2017 - 13:31
Alibaba surges while Walmart stalls
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Online retail giant Alibaba has again reported strong earnings, posting a 56% rise in quarterly revenue.

Net income grew by 94% to 14.7bn yuan for the three months ending June 30, compared to the same period last year.

The performance is in sharp contrast to US big box retailer Walmart, which posted a 23% drop in net income.

Analysts say the two results reflect both a global shift towards e-commerce and a broader shift towards Asia.

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