FILE - In this Sept. 19, 2014, file photo, the Alibaba logo is displayed during the company's IPO at the New York Stock Exchange. The Alibaba Group reports financial earnings on Thursday, Jan. 28, 2016. (AP Photo/Mark Lennihan, File)
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Alibaba is hoping its better-than-expected third-quarter results help reassure investors worried about the state of the Chinese economy.Mobile spending accounted for 65 percent of total China retail revenue, up from 30 percent last year.The popular Chinese shopping holiday, Nov. 11, dubbed "Singles Day" helped boost results as well.Net income for the three months ending Dec. 31 more than doubled to 12.5 billion Chinese yuan ($1.93 billion) or 4.90 yuan per share (76 cents) from 5.94 billion Chinese yuan.Adjusted for one-time costs, net income totaled 99 cents per share. Alibaba Holding Ltd.'s revenue rose 32 percent to 34.54 billion Chinese yuan ($5.33 billion) from $26.18 billion last year.
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