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Ant Group Quarterly Profit Falls 91% to 1.2 Billion Yuan

Ant Group reported a 91 percent drop in net profit to 1.2 billion yuan for the quarter ending September 30. The data comes from Alibaba earnings released today.

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Ant Group has reported a 91% decline in net profit, which fell to 1.2 billion yuan for the quarter ending September 30. This sharp downturn was calculated based on the quarterly financial results of Alibaba Group Holding Limited, which were released on Thursday.

A logo of Ant Group is displayed at its booth during the China International Fair for Trade in Services in Beijing. REUTERS/Maxim Shemetov
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