SHANGHAI (Reuters) -China’s Ant Group posted a 10.3% rise in net profit to 8.37 billion yuan ($1.18 billion) in the three months to June 30, according to Reuters calculations based on Alibaba Group Holdings’ earnings released on Tuesday. The e-commerce giant reports profit from Ant one quarter in arrears. Both groups were co-founded by Chinese billionaire Jack Ma and Alibaba holds a 33% stake in Ant.
(Reporting by Casey Hall in Shanghai)
