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Alibaba revenue up 61 percent

Staff Writer | November 2, 2017
Alibaba Group Holding said its quarterly revenue climbed 61 percent helped by growth in its core e-commerce business.
Alibaba   $8.34 billion in revenue
Alibaba posted 55.12 billion yuan ($8.34 billion) in revenue for the July-September quarter.

Net income more than doubled from a year ago to 17.67 billion yuan, growing at a faster clip than the previous two quarters.

Alibaba, whose Tmall and Taobao shopping platforms dominate online retail in China, saw revenues from its core e-commerce business hit 46.46 billion yuan, a 63 percent rise from the same quarter a year earlier.