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Alibaba Beats Revenue Expectations With Strong E-Commerce, Media Growth

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A logo of Alibaba Group is pictured at its headquarters in HangzhouChinese online shopping giant Alibaba Group Holding Ltd reported a 55 percent rise in second-quarter revenue on Wednesday, beating analyst estimates on the back of core e-commerce sales and strong media and entertainment growth. It was a second straight quarter of robust results for the company, suggesting it can still generate strong growth even as worries abound about the health of China's economy and its retail sector. Alibaba's American Depository shares were up around 3 percent in pre-market trading ahead of the New York open.




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