SHANGHAI (Reuters) -China’s Ant Group posted net profit of 5.4 billion yuan ($749 million) for the three months to December 31, down 31.4% from a year earlier, Reuters calculations based on Alibaba Group Holdings’ earnings released on Thursday showed. The e-commerce giant reports profit from Ant one quarter in arrears. Chinese media earlier this month […]
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Ant Group quarterly profit down 31.4% year-on-year to 5.4 billion yuan
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SHANGHAI (Reuters) -China’s Ant Group posted net profit of 5.4 billion yuan ($749 million) for the three months to December 31, down 31.4% from a year earlier, Reuters calculations based on Alibaba Group Holdings’ earnings released on Thursday showed.
The e-commerce giant reports profit from Ant one quarter in arrears.
Chinese media earlier this month reported that the fintech group plans to list its overseas arm, Ant International, on the Hong Kong stock exchange, citing unnamed sources.
Both groups were co-founded by Chinese billionaire Jack Ma. Alibaba holds a 33% stake in Ant.
($1 = 7.2094 Chinese yuan renminbi)
(Reporting by Casey Hall)