Ron Burgundy Posted August 11, 2016 Share Posted August 11, 2016 (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd reported a better-than-expected 59 percent jump in quarterly revenue on Thursday, defying a slowdown in the Chinese economy. Alibaba's total revenue rose to 32.15 billion yuan, or $4.84 billion, in the quarter ended June 30 from 20.25 billion yuan a year earlier. Analysts on average had expected revenue of 30.17 billion yuan, according to Thomson Reuters I/B/E/S. Mobile revenue from the company's China commerce retail business increased 119.3 percent to 17.51 billion yuan, while monthly mobile active users increased 39 percent. View the full article Quote Link to comment Share on other sites More sharing options...
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