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Alibaba beats quarterly revenue estimates


Reuters


Aug 15 (Reuters) - China'sAlibaba Group Holding Ltd reported a 42% jump in quarterly revenue that beat estimates on Thursday, aided by growth in its core e-commerce and cloud computing businesses.

Revenue rose to 114.92 billion yuan ($16.32 billion) in the first quarter ended June 30 from 80.92 billion yuan, a year earlier.

Analysts had expected revenue of 111.73 billion yuan, according to IBES data from Refinitiv.

($1 = 7.0414 Chinese yuan renminbi)






This article appears in: Politics , Fundamental Analysis , World Markets , Stocks , Earnings
Referenced Symbols: BABA ,



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