Chinese e-commerce giant Alibaba’s revenue surged 39% year-on-year in the first 3 months of 2016, its fastest growth in the last 4 quarters. The quarterly revenue figure beat analysts’ average estimates of a 33% rise. Alibaba’s net income attributable to shareholders rose 85% year-on-year in the quarter ended in March to $832 million, the company said. The company is considered a proxy for the Chinese economy, which expanded at its slowest rate in 7 years during the first quarter of this year, rising an annual 6.7%.
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