(Bloomberg) -- Alibaba Group Holding Ltd. quarterly sales and earnings beat expectations as growth in cloud computing services bolstered an e-commerce business that continues to defy a slowing Chinese economy.
Revenue at China’s biggest operator of online shopping malls rose 55 percent to 34.3 billion yuan ($5.1 billion), the company said on Wednesday. That compares with the 33.9 billion-yuan average of estimates compiled by Bloomberg. Adjusted earnings-per-share were 5.26 yuan, compared with the 4.69 yuan expected by analysts.
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