Losses increased because of decline in value of investments in publicly-traded companies; backing for newer businesses such as Taocaicai and Taobao Deals; and the continued impact of Covid.
Chinese technology giant reports heaviest profit decline in five years and slowest revenue growth since it listed in 2014.
While pandemic spending boosted topline by 30% for the second quarter, operating profit took a 33% knock due to expenses related to Ant Group.
Celebrating its 20th anniversary and marking the departure of founder Jack Ma, Alibaba Group announced a refresh of its core values to help the company last 102 years.
Alibaba to exchange its reliance on Jack Ma's personal brand with "the next level of corporate governance".
Facial recognition used to register more than 40,000 delegates at China's largest cloud computing event.
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