Alibaba says profit up 132 percent in 'outstanding' quarter

Chinese e-commerce giant Alibaba said on Thursday that its net profit soared 132 percent in an "outstanding" latest quarter, prompting it to raise its projection for full-year revenue growth. Net profit for the three months ending September 30 reached 17.67 billion yuan, (2.67 billion dollars), up from 7.62 billion yuan in the same period of 2016, the company said.