Alibaba reported revenue of $2.54 billion for the second quarter, a 45% increase from the year-ago quarter. Mobile revenue increased 111% from the previous quarter for the company. Alibaba saw net income of $1.99 billion in the quarter.
Must Read:50 Stocks Hedge Funds Love
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.