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May 8, 2015

Alibaba revenues surge as mobile keeps growing

By MAE ANDERSON
AP Technology Writer

NEW YORK — The cash register keeps ringing for Alibaba, and mobile growth is a key reason why.

The Chinese e-commerce reported revenue growth jumped 45 percent in its fiscal fourth quarter — driven by more active buyers and shoppers on mobile devices as the Chinese middle class snapped up goods on its platforms like Taobao and Tmall. The strong revenue reassured investors worried about the slowing Chinese economy, a hiring freeze and the sale of counterfeit goods on Alibaba's platforms. And it proved that slowing growth is nowhere in sight.


 
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