Alibaba Scores Record Growth And Beats Estimates As Mobile Revenue Soars, Topping Desktop For The First Time

Alibaba recently unveiled its Q2 2016 results, with the marketplace showing tremendous growth as revenue from its mobile users surpassed that of desktop users. The e-commerce vendor’s revenue rose to RMB 32.2 billion ($4.8 billion), placing it 59 percent higher than last year. The growth itself is formidable, being the highest since Alibaba initiated the largest U.S. IPO in history when it started public trading in September 2014. The blooming business model is even more commendable as China’s economy contracted during the last year. Alibaba’s marketplaces in China managed to…

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