12:07 PM Chinese e-commerce/online payments giant Alibaba (ALBCF.PK) saw its Q3 revenue rise 71% Y/Y to $1.1B, according to Yahoo's (YHOO +0.8%) Q3 10-Q. Net income rose 129% to $273M. After accounting for stock buybacks, Yahoo still owns 23% of Alibaba, a stake that's worth ~$8.7B based on the valuation assigned in the recent sale of half of Yahoo's position. China's e-commerce market continues to grow rapidly, and the government has set a target of quadrupling transaction volume from 2010 to 2015. (Read the comments on this)
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