Alibaba reports Q2 revenue of $16.91B, up 40% YoY, with net income more than tripling to ~$10B due to a one-time gain related its stake in Ant Financial
After SoftBank's WeWork disaster, Alibaba steps up to fill in a massive hole in 3Q earnings. By taking its 33% stake in Ant Financial, Alibaba's value rises. That flows through to become a $2.6bln gain to SoftBank. Well played SoftBank. Well played. https://group.softbank/...