Alibaba’s next-gen businesses burn cash but see slowing growth

Jack Ma, chairman of Alibaba Group Holding Ltd., speaks during the Bloomberg Global Business Forum in New York, U.S., on Wednesday, Sept. 20, 2017. Photographer: Misha Friedman/Bloomberg

Alibaba Group Holding Ltd.’s numbers were impressive enough, I suppose.Both revenue and earnings surpassed estimates, which is nothing to sneeze at, but that’s become par for the course. Looking at the various divisions, though, it doesn’t seem there’s much progress at all over the past year.

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