RPT-Alibaba.com Q2 net profit slips 34 pct, beats view

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SHANGHAI Aug 13 (Reuters) - China's top e-commerce firm, Alibaba.com (1688.HK), said on Thursday its quarterly net profit fell 34.2 percent, but it beat analysts' expectations, as margins sank amid slowing business during the global downturn.

Alibaba's net profit for the second quarter came in at 260.7 million yuan ($38.15 million) versus 396.5 million yuan a year earlier. A poll of five analysts by Reuters Estimates expected the firm's net profit to come in at 224.8 million yuan.

Alibaba said its operating profit came in at 287.7 million yuan. Alibaba, which operates an online site connecting millions of buyers and sellers, said the fall in profit was due to high personnel and research and development costs. (Reporting by Melanie Lee; Editing by Edmund Klamann)