Economics
Alibaba Caps $250 Billion Rally With Accelerating Growth
- Quarterly sales, earnings-per-share beat analyst projections
- New retail initiative will enlist half a million helpers
The Biggest Takeaways From Alibaba's Earnings
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Even after adding $250 billion in market value, Alibaba Group Holding Ltd. still manages to surprise.
China’s biggest company raised its outlook for full-year revenue growth after reporting its fastest pace of sales since its record 2014 IPO -- an indicator of strong Chinese consumer spending. That comes as the e-commerce company’s shares have doubled this year, a rally that created more value for any company apart from Apple Inc.