China's biggest e-commerce company beat analysts' expectations as the firm shrugged off any concerns about a market slowdown.

The company also said it would buy a 33 percent stake in its payment affiliate Ant Financial in exchange for certain intellectual property rights owned by the ecommerce giant.

Revenue for the October-December period rose to 83.03 billion yuan ($13.19 billion), up from 53.25 billion yuan a year earlier.

That exceeded the 79.8 billion yuan average estimate of 28 analysts polled by Thomson Reuters.

Latest Comments