Alibaba Group Holding Ltd accelerated revenue growth in the crucial fourth quarter, a timely lift for the Chinese Internet company as it prepares for a highly anticipated public offering. Chinas largest Internet company, which plans to raise as much as $16 billion in a 2014 initial public offering that could value it at more than $140 billion, recorded 66 percent growth in sales to $3.06 billion in the final three months of 2013. The U.S. companys stock was up 8 percent at $36.90 after hours, despite reporting anemic quarterly revenue growth.
Comments are closed.
