Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Ant group quarterly profit rises 17.5% on year to 13.37 billion yuan - Alibaba filing

Published 08/10/2023, 06:41 AM
Updated 08/10/2023, 06:47 AM
© Reuters. A booth of Ant Group is pictured at the Singapore FinTech Festival, Singapore, November 4, 2022. REUTERS/Anshuman Daga
BABA
-

SHANGHAI (Reuters) - China's Ant Group made net profit of 13.37 billion yuan ($1.85 billion) in the three months to March 31, up 17.5% from a year earlier, according to Reuters calculations from Alibaba (NYSE:BABA) Group Holding's earnings report released Thursday.

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

Alibaba, which spun off Ant 12 years ago, said last month it had decided not to participate in Ant's proposed share buyback and would maintain its shareholding in the firm.

Chinese authorities in July announced a fine of 7.12 billion yuan ($984 million) for Ant Group for violating laws concerning consumer protection and corporate governance, ending a years-long regulatory overhaul of the fintech company.

($1 = 7.2097 Chinese yuan renminbi)

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.