Ant Group's net profit fell 31% year over year to about 5.3 billion yuan in the three months ended Dec. 31, Bloomberg News reported Thursday, citing calculations by the news agency based on Alibaba's (HKG:9988) earnings report.
Ant contributed 1.76 billion yuan in profit to Alibaba in the quarter, according to Bloomberg.
As Alibaba holds one-third of Ant's stake, Ant logged an estimated profit of 5.3 billion yuan, the report said.
Ant's earnings are one quarter behind Alibaba's, the report said.
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