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Alibaba’s Sales Jump 40% Despite Cooling China Economy

  • Sales beat estimates, helped by better shopper targeting
  • Alibaba offers glimpses into a decelerating Chinese economy
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Alibaba Group Holding Ltd. reported a 40% surge in revenue, showing China’s consumers remain on the lookout for online bargains as the world’s No. 2 economy slows.

Better shopping recommendations, revamped grocery services and deeper content such as livestreams drove sales for China’s largest corporation, a barometer for the health of online retail as well as the broader economy. It reported better-than-projected revenue of 119 billion yuan ($16.9 billion) in the September quarter. Alibaba’s shares gained 1.5% in pre-market trading.