Alibaba’s sturdy earnings present Chinese language customers are nonetheless spending

E-commerce giant Alibaba reported better-than-expected earnings and sales for its most recent quarter Thursday.

Shares of Alibaba (BABA) were up nearly 15% in late morning trading after the company reported that revenue rose 9% from a year ago, topping analysts’ forecasts. Alibaba said the strength was due to solid online and mobile shopping demand as well as a 12% jump in sales from its massive Alibaba Cloud unit.

Alibaba said that it now has more than 1 billion active customers in China, the first time the company has surpassed that milestone. Alibaba has more than 1.3 billion customers worldwide.

Alibaba charman and CEO Daniel Zhang said in a press release that Alibaba was able to post solid results “despite macro challenges that impacted supply chains and consumer sentiment.”

The company hopes supply chain disruptions could soon be ending. Alibaba chief financial officer Toby Xu said during a conference call with analysts Thursday that “we certainly are seeing signs of improvement…

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