Alibaba Sales Rise 32% as Ma's Push to Rural China Boosts Growth
- Gross merchandise value surges 23% driven by mobile spending
- Mobile monetization rates increased to 2.88% in quarter
Kedrosky: Alibaba Payments Did Better Than Cloud Side
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Alibaba Group Holding Ltd. reported sharp gains in revenue and profit as Chairman Jack Ma’s push into China’s countryside helped growth amid a slowing economy.