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Alibaba steadfast amid China turbulence

January 30, 2019 / Daphne Howland
SHARESHARESHARE

Alibaba on Wednesday reported that its December quarter revenue rose 41% to RMB 117.3 billion ($17.06 billion), buoyed by its cloud computing business, where revenue rose 84% year-over-year to RMB 6.6 billion. Revenue from core commerce rose 40% to RMB 102.8 billion. Annual active consumers on its China retail marketplaces grew by 35 million in the 12 months ended Sept. 30 to 636 million. Mobile monthly active users grew by 33 million to 699 million from September to December, according to a company press release.Income from operations rose 3% to RMB 26.8 billion, as adjusted EBITDA rose 13% year-over-year to RMB 40.7 billion, the company said. Alibaba's business diversity and ongoing innovations are helping protect it at a time of economic uncertainty in China — signs of slowing growth and governmental lever-pulling to address that. In other words, Alibaba has a lot of irons in a fire that is still burning brightly, despite recent headlines.