eCommerce giant Alibaba Group Holding found continued strength in spending by Chinese consumers helped lift fiscal third-quarter results.
Revenues were up 54 percent in the period to 53 billion yuan, compared to the 50 billion yuan that had been expected by analysts’ consensus (translating into $7.8 billon U.S. dollar [USD]). Net income stood at roughly $1 USD, or 9.09 yuan, where the Street had been at 7.70 yuan.