Alibaba has reported surprise 3Q revenue of CNY83bn ( $ 2000 ) , up 56 % annually , despite concerns that the e - commerce market in slowing . analysts had estimated the Chinese company would report CNY79.8bn . The conglomerate has also announced it would buy a 33 % stake in its intellectual Financial holdings unit in exchange for intellectual property rights acquired by Alibaba .
Alibaba has reported surprise 3Q revenue of CNY83bn ($13bn), up 56% YoY, despite concerns that the e-commerce market in slowing. Analysts had estimated the Chinese company would report CNY79.8bn. The conglomerate has also announced it will buy a 33% stake in its Ant Financial payment unit in exchange for intellectual property rights owned by Alibaba.