China’s shoppers defied the country’s economic slowdown, boosting ecommerce group Alibaba
to a better than expected 39 per cent year-on-year rise in revenues for the past quarter.
That rate of growth was the highest of the past four quarters, the company said, while mobile revenues rose 149 per cent year on year to Rmb13.1bn ($2bn). Quarterly revenues rose to Rmb24.2bn, beating market expectations, while annual active buyers on the company’s retail marketplaces increased to 423m, up 16m over the prior quarter.
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