China's Alibaba posts 59% surge in quarterly revenue
Chinese e-commerce giant Alibaba
Shanghai - Arab Today
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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