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Alibaba, the Chinese e-commerce giant that wooed Wall Street, has posted a healthy profit since it became a publicly traded company in September, despite a slowdown in the Chinese economy.
The company's second-quarter earnings report showed a 16 percent profit since the same period last year and sent the company's stock price to $106 per share in early trading this morning.
The New York Times reported that Alibaba's market valuation is more that $250 billion, which surpasses the value of Facebook.
Alibaba's golden performance is beating predictions that the company would be a flash-in-the-pan on the U.S.
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