The largest Chinese retailer Alibaba Group Holding Limited reported the results of the fourth quarter of 2017 fiscal year. According to the company, its quarterly revenue surpassed analysts ' expectations, mainly due to the growth of e-commerce in China. The quarterly revenue of the retailer increased 60% to $5.6 billion. It was the highest since it went public.
In addition, the company also announced the share repurchase worth $6 billion over the next two years.
Overall, at year-end, Alibaba's revenue amounted to $22,99 billion.
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