Alibaba has reported a 59 percent surge in revenue during their first quarter fiscal earnings, posting the biggest increase since the e-commerce titan listed in 2014.

The company recorded 32.2 billion yuan ($4.8 billion USD) in revenue, outstripping estimates of around $4.5 billion.

Mobile monetization rates also surpassed desktop for the first time ever, with mobile GMV accounting for 75% of Alibaba’s total GMV, up 119 percent over last year. While the change is in line with the shifting ratios of desktop to mobile in China, it also poses a huge challenge for the company, which needs to take into account the smaller ad spaces for mobile devices.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com