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BEIJING, Aug. 11 (Xinhua) -- Chinese Internet giant Alibaba's revenue surged 59 percent year-on-year in the first quarter of the 2017 fiscal year, according to a report issued by the group on Thursday.
The higher-than-expected increase in revenue gives testament to the overall acceleration of Alibaba's different businesses like e-commerce, cloud calculation, digital media and entertainment, as well as new start-ups, the report said.
The total revenue reached 32.15 billion yuan (4.84 billion U.S. dollars) in the fiscal year's first three months which ended on June 30, 2016, and the free cash flow for Alibaba topped 12.75 billion yuan (1.92 billion dollars), guaranteeing the group's strategic investment in the future.
Cloud calculation, in particular, grew 156 percent in the first quarter, netting 1.24 billion yuan (187 million dollars), thanks to a hike in the number of paying clients and an increasing demand for using the service.
Another milestone for the group is that mobile clients' gross merchandise volume (GMV) surpassed that of non-mobile clients for the first time, a big win for the group's strategy tilting toward mobile clients.
"The accelerated increase in revenue also reflected that we brought to our clients deep-level value orientation. We are well prepared to embrace a robust and quality growth in the future," said Daniel Zhang, Alibaba's CEO.
