China e-commerce giant Alibaba's quarterly revenue leaps 39%

Chinese e-commerce giant Alibaba's revenue surged 39 percent year-on-year in the first three months of 2016, it said Thursday, its fastest growth in the last four quarters. Revenue hit 24.18 billion yuan ($3.75 billion) for the three months to March, it said in its quarterly results announcement, defying both China's economic slowdown and increasing competition in the world's biggest e-commerce market. "Our excellent results this quarter reflect the unique strength of our core e-commerce busines