China's Alibaba Posts 59% Surge In Quarterly Revenue

China's Alibaba posts 59% surge in quarterly revenue

SHANGHAI, (Pakistan Point News - APP - 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.