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China's Alibaba Posts 59% Surge In Quarterly Revenue

Fahad Shabbir (@FahadShabbir) Published August 11, 2016 | 05:01 PM

China's Alibaba posts 59% surge in quarterly revenue

SHANGHAI, (APP - UrduPoint / Pakistan Point News - 11th Augst,2016) - 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.

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