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на начальном этапе (The words "share-based compensation" appears 35 times in the earnings report. A lot of it had to do with reversing previous share-based compensation expense, but given how popular this form of compensation is among technology companies and how Alibaba (in my view) is still in its early innings as a company, I expect most of the buyback dollars to merely offset dilution as the company attracts talent using its stock.  seekingalpha.com aldrignedigen) | |||