Alibaba Q3 revenue soars 53% to $7.8b, raises forecast for 2017

Alibaba Q3 revenue soars 53% to $7.8b, raises forecast for 2017

A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China, October 14, 2015. REUTERS/Stringer CHINA OUT

Alibaba Group Holding Ltd. raised its full-year sales forecast after quarterly results beat estimates, as Chinese spending stays strong and the company wrings revenue from fledgling areas such as cloud computing, entertainment and search.

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