(Reuters) – China’s Alibaba Group Holding Ltd reported a better-than-expected 61 percent rise in fourth-quarter revenue on Friday, driven by steady sales in its core ecommerce and cloud computing businesses. Revenue was 61.9 billion yuan ($9.73 billion) in the reported quarter, compared with the average analyst estimate of 58.9 billion yuan, according to Thomson Reuters I/B/E/S. Net income attributable to shareholders, however, fell 29 percent to 7.56 billion yuan.
Source:: Reuters – Business News
