Alibaba Earnings Relieve Concerns Of Slower Growth
Alibaba (BABA) turned in stronger than expected earnings Tuesday morning, sending the stock higher and also giving a boost to shareholder Yahoo (YHOO). The China e-commerce giant reported revenue of $3.49 billion for the company’s fiscal second quarter, which ended Sept. 30 — up 32% in local currency from the same quarter a year earlier and topping the consensus estimate of $3.35 billion. The 32% revenue growth was an acceleration from growth of