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.
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