Alibaba Group revenue growth of 38 percent to 161.4 billion yuan

Hangzhou: China’s e-commerce giant Alibaba Group reported year-on-year revenue growth of 38 percent to 161.4 billion yuan ($23.12 billion) for the fiscal quarter ending December 30, 2019.

The company Alibaba Group's net profit attributable to shareholders was 52.31 billion yuan, soaring 58.3 percent compared with the same period last year, Xinhua reported on Thursday.

The profit surge was mainly due to the strong performances in online retailing and cloud computing, the company said.

In the third fiscal quarter, Alibaba Group Holding was listed on the Hong Kong stock exchange, making it the first Chinese Internet enterprise to list both in New York and Hong Kong. (IANS)

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