Alibaba revenue up by 59%, highest since 2014
China-based Alibaba Group on Thursday reported a 59% year-on-year rise in revenue at $4.84 billion, its highest growth rate since 2014, in the June quarter. However, the e-commerce firm's net income fell 77% to $1.07 billion against the previous year period. Streaming entertainment and cloud computing to generate new growth bolstered Alibaba's e-commerce business, analysts said. \n