A screen showing the total value of goods transacted during Alibaba’s 11.11 global online shopping festival in Beijing, on November 12, 2015. Photo: Reuters

Alibaba beats forecast with 56pc jump in sales, helped by growth in e-commerce, cloud computing

Shares of the company rose 1.1 per cent in New York before earnings were announced to a record US$159.50, giving Alibaba US$408.5 billion in market capitalisation as Asia’s most valuable company.

Topic |   Alibaba

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A screen showing the total value of goods transacted during Alibaba’s 11.11 global online shopping festival in Beijing, on November 12, 2015. Photo: Reuters
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