Alibaba 1Q Revenue Jumps as It Sees More Shoppers

May 7, 2015 11:28 AM

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Chinese e-commerce powerhouse Alibaba Group says its revenue jumped 45 percent on strong growth in active buyers and service fees.

Shares of the company rose 7.5 percent in premarket trading. Alibaba went public in September to much fanfare as investors sought to tap into the rapidly growing Chinese middle-class consumer class.

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