Alibaba Q3 revenue soars

HANGZHOU - China's e-commerce giant Alibaba said Thursday that its revenue jumped 56 percent year-on-year to 83 billion yuan ($12.7 billion) in the third fiscal quarter ending December last year.

"Alibaba had another great quarter driven by the continued strength of the Chinese consumer and the wide and innovative range of services we provide for merchants and consumers," Alibaba chief executive Daniel Zhang said in an earnings report.