Alibaba.com, the world's largest online marketplace for trade between companies, reported a 16 per cent drop in first quarter net profit as it sacrificed part of its margin for greater market share.
The company's outlook is viewed as an accurate indicator for international trade trends because of its exposure to several hundred thousand export businesses.
Alibaba said its net income dropped to Rmb253.4m ($37.2m) in the three months to March 31 from Rmb300.7m a year earlier, but the number of the company's paying members jumped 47 per cent year on year to a record high of more than 481,000.
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