China's Alibaba has confounded China's slowdown with a stronger than predicted 32% rise in 2Q2015, and has almost tripled revenue on mobile platforms to $nearly $200 billion, an increasingly important sector for the company. However, the value of transactions on its platforms grew at a slower pace. These results also added weight to recent comments by Alibaba's founder and chairman, Jack Ma, that concerns over slowing consumption in China were overdone.
China's Alibaba has confounded China's slowdown with a stronger than predicted 32% rise in 2Q2015, and has almost tripled revenue on mobile platforms to $1.66bn, an increasingly important sector for the company. However, the value of transactions on its platforms grew at a slower pace. These results also added weight to recent comments by Alibaba's founder and chairman, Jack Ma, that concerns over slowing consumption in China were overdone.