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Alibaba Burns More Money on Entertainment Push

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Alibaba Group Holding Ltd.’s core commerce business fueled the company’s market-beating results in the June quarter, while Jack Ma’s push to build an entertainment business continues to be the chief drain on its finances. Operating expenses in that unit equaled 41 percent of the amount it spends on core commerce, widening the operating loss margin to 83 percent, according to calculations by Bloomberg Gadfly’s Tim Culpan. And there’s no sign of that abating, with Alibaba itself foreshadowing more expenditure to come.

    Read more: http://www.bloomberg.com/

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