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Alibaba Profits Plunge 88%, Still Passes $1 Trillion in 2020 GMV

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Alibaba may have seen profits tumble 88 percent in its fourth quarter, but the Chinese e-commerce giant still beat forecasts for both income and revenues as online orders surged throughout the COVID-19 pandemic. The company’s core commerce business, which includes online marketplaces Tmall, Taobao and Lazada, international retail site AliExpress, “New Retail” grocery chain Freshippo…

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