E-commerce conglomerate Alibaba Group Holdings reported on Tuesday that its revenue in the second fiscal quarter jumped 32% to US$3.49 billion, exceeding investor expectations, The Wall Street Journal reported. Gross merchandise volume grew 28% from a year earlier, indicating healthy overall sales. The firm also generated more income from mobile: Revenue from that segment more than doubled for the period to US$1.66 billion, and monetization – a measure of how much Alibaba makes from sales on its platforms – for mobile rose to 2.39% from 1.87% for the same period last year. Net profit rose sevenfold, largely due to one-off gain of US$2.93 billion from revaluation of a stake in Alibaba Health Information Technology.
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