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  • 08.11.16

Alibaba just had a terrific quarter

The Chinese e-commerce giant reported a 59% rise in quarterly revenue, despite a slowing economy in the country, reports Reuters. Alibaba‘s total revenue jumped to $4.8 billion with mobile revenue increasing a whopping 119% to $2.6 billion. Speaking about the latter figure, Alibaba’s chief financial officer Maggie Wu said, “We passed an important milestone this quarter in achieving higher monetization of mobile users than non-mobile users for the first time.”MG