Alibaba posts 59pc surge in quarterly revenue

11 Aug, 2016

SHANGHAI: Chinese e-commerce giant Alibaba saw revenues leap 59 percent year-on-year for the quarter ended in June, it said Thursday, accelerating growth from the previous quarter.

Revenue for the company, seen as a proxy for China's increasingly crucial consumer sector, reached 32.15 billion yuan ($4.83 billion) in the June quarter, it said in a statement.

Copyright AFP (Agence France-Presse), 2016

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