Chinese e-commerce giant Alibaba Group Holding Ltd. says it expects revenue to grow 60% in the next year, as its core commerce business and cloud computing business attracts more customers.
Alibaba reported its fourth-quarter profit fell 29% to 7.56 billion yuan ($1.21 billion) from a year ago, in part due to a one-time gain from the disposal of assets including Chinese internet firm MoMo Inc. in the same period a year ago. Excluding the one-off disposal, net income in the quarter ending March 31 rose 37%, the company said...