What China slowdown? Alibaba blows away forecasts

China’s technology and consumer driven economic transition

Many investors remain worried about the health of China’s economy. But it looks like the Chinese are still shopping until they drop. The country’s e-commerce giant Alibaba reported a huge jump in sales that topped Wall Street’s forecasts.

Alibaba said on Thursday that revenue for its fiscal second quarter surged nearly 60% from a year ago to $ 4.84 billion, easily surpassing analysts’ estimates for sales of $ 4.54 billion.

Company news – CNNMoney.com

About The Author