Chinese e-commerce giant Alibaba reported revenue of RMB 93.49 billion ($13.93 billion) for the fiscal quarter ended March 31, 2019, marking 51% growth from the same period a year earlier.

Revenue beat analyst estimates of $13.42 billion for the quarter as growth momentum maintained compared with 58% year-on-year growth during the same period last year. Revenue for the 2019 fiscal year ended March 31 totaled RMB 376.84 billion, an increase of 51% year on year, lower than the company’s forecast of more than 60%.

Alibaba’s net income in the quarter ended March 31 was RMB 23.38 billion, an increase of 252% compared with RMB 6.64 billion in the same quarter of 2018.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.