On August 20, Alibaba Group released its first quarter results for the new fiscal year, with revenue of RMB 153.75 billion yuan (USD $22.4 billion) for the quarter, exceeding market expectations of RMB148.06 billion (USD $21.6 billion).

According to the results, mobile monthly active users in Chinese retail market increased to RMB 874 million yuan (USD $127.3 million), annual active consumers reached 742 million people, Taobao special edition mobile monthly active users (MAU) reached nearly 40 million people, Tmall payment in kind commodity GMV increased by 27%, Taobao Live GMV continued to grow by more than 100% year-over-year, cloud computing revenue increased by 59% year-over-year, and the number of Ele.me registered merchants increased by 30% year-over-year. (Source: tech.qq.com)

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