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Alibaba's quarterly revenue beats estimates


REUTERS - Alibaba Group Holding Ltd, China's largest e-commerce firm, reported first-quarter revenue above Wall Street estimates, helped by strength in the Chinese e-commerce market. Alibaba's revenue rose 56 percent to 50.18 billion yuan ($7.52 billion) for the three months ended June 30, compared with the analysts' average estimate of 47.7 billion yuan, according to Thomson Reuters I/B/E/S. Revenue from the core e-commerce business rose 58 percent, just shy of the 59.5 percent jump in the previous quarter. Alibaba - one of the most valuable companies in Asia - is benefiting from ...

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First Published: Thu, August 17 2017. 16:29 IST