Alibaba announces unexpected 14% increase in quarterly revenue
The group's revenue amounted to 234.1 billion yuan
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Beijing: Chinese e-commerce giant Alibaba announced an unexpected 14 percent on-year increase in quarterly sales Thursday, despite an economic slowdown in the country fuelled by sluggish consumption.
In the first quarter of its staggered financial year, the group's revenue amounted to 234.1 billion yuan ($32.5 billion), higher than analyst forecasts.